In a developing controversy, local media reports have linked former Pagcor personnel, including Tengco, to the alleged disappearance of a PHP75 million (£1.0 million/€1.2 million/$1.3 million) performance bond posted by an e-sabong company. This bond has raised questions and resulted in legal charges filed by Joaquin Sy, chairman and chief finance officer of Kamura Highlands Gaming and Holdings, a company licensed by Pagcor for online and remote betting on live cockfighting matches and events.
Allegations and Charges
Charges have been filed against several former Pagcor senior staff members, including Tengco, for malversation of public funds, qualified theft, and falsification of private and commercial documents before the ombudsman. These charges are in connection with the disappearance of the PHP75 million bond, which reportedly occurred in July 2022.
Missing Bond and Its Background
The performance bond in question is tied to Kamura’s e-sabong operations from the previous year. Joaquin Sy asserts that he posted the bond at Pagcor’s Manila office through manager’s cheques drawn from his personal bank accounts and payable to Pagcor. Official receipts and documents were issued by Pagcor to confirm the bond’s posting. However, e-sabong operations were ordered to halt a few weeks later by then-Pagcor President Duterte. Despite his efforts to withdraw the bond through correspondence with Pagcor chief Andrea Domingo, Sy did not receive a response.
Pagcor’s Response and Internal Investigation
Tengco, the current Pagcor president, has pledged to investigate the matter thoroughly and determine accountability within the agency. He acknowledges that the incident occurred during the previous administration but commits to finding the truth and bringing any wrongdoers to justice. Despite not having received a formal complaint from the ombudsman, Tengco has initiated an internal investigation. He notes that the E-Sabong Licensing Department, the department allegedly involved, has been disbanded, and its personnel reassigned to other units.
Tengco also points out that e-sabong was outlawed by former President Duterte in May 2022, preceding the filing of the performance bond in July of the same year. He assures the public that Pagcor will diligently investigate the alleged anomalous transaction and respond to the accusations once formal charges are received from the ombudsman.
The controversy surrounding the disappearance of the PHP75 million performance bond underscores the importance of transparency and accountability within government agencies. As investigations unfold, many will be closely watching to see how this complex issue is resolved.