Fugitive gambling tycoon Charlie “Atong” Ang may have converted an estimated $3 billion into cryptocurrency to conceal his financial movements after fleeing the country through an unauthorized backdoor route, the Philippine interior chief said Tuesday.
Department of Interior and Local Government (DILG) Secretary Juanito Victor “Jonvic” Remulla told news channel ANC that authorities suspect Ang moved massive cash reserves into digital assets, complicating inter-agency efforts to monitor his finances and locate him across Southeast Asia. (Read More: SEC Investment Watchlist Philippines: Advisories, Cease-and-Desist Orders, and Flagged Schemes)
“With that kind of money, you can pay people,” Remulla said, noting that liquid crypto holdings make the fugitive significantly harder to trace than conventional bank deposits. “We’re not saying that he’s paying people off in Cambodia, but he is in this Southeast Asian region.” (Read More: How to Report a Crypto or Investment Scam)
Remulla confirmed that Ang slipped out of Philippine territory via a backdoor channel rather than formal international ports, thus evading immigration lookouts and border enforcement. He declined to disclose the specific transit route because there is an active joint pursuit involving the Philippine National Police (PNP) and regional intelligence partners.
The fugitive businessman faces multiple warrants issued in January by regional trial courts in Laguna and Batangas for kidnapping, serious illegal detention and homicide. The charges stem from the disappearance and suspected murders of at least 34 cockfight participants between 2021 and 2022.
The Department of Justice (DOJ) indicted Ang and 21 other individuals, including 15 police officers, on Dec. 9 following whistleblower testimony detailing how victims were abducted, executed and dumped into Taal Lake. Ang has previously denied involvement in the disappearances.
Philippine authorities continue to offer a 20 million peso bounty for verified intelligence leading to Ang’s capture.
Disclosure: AI is used to assist in developing this article.
This news is published on BitPinas: DILG SEC Claims Fugitive Tycoon Atong Ang May Have Converted $3 Billion Into Crypto
What else is happening in Crypto Philippines and beyond?
No Comment! Be the first one.