In the recent past, Australian companies have experienced notable fines, such as Crown Resorts being required to pay a substantial AU$450 million (US$300 million). Adding to the list, Tabcorp has now been fined AU$1 million. Meanwhile, across the waters in the Philippines, the Philippine Amusement and Gaming Corporation (PAGCOR) is currently under investigation for an alleged unauthorized release of a ₱75 million (US$1.3 million) bond owed to an e-sabong operator.
Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO, Alejandro Tengco, along with nine others, face charges related to the alleged unlawful release and mysterious disappearance of ₱75 million in a cash performance bond posted by Kamura, an e-sabong company.
The accused individuals, including Tengco, his Chief of Staff Dianne Erica Jogno, former PAGCOR Chief Andrea Domingo, and former board members Gabriel Claudio, Carmen Pedrosa, Reynaldo Concordia, and James Patrick Bondoc, are charged with malversation of public funds, qualified theft, and falsification of documents.
Tengco and Jogno are also charged with obstruction of justice for deliberately concealing the crimes and refusing to respond to complainant letters within the legal timeframe.
It is crucial to note that the offense of malversation of public funds involving ₱75 million is non-bailable and carries severe penalties, such as potential life imprisonment and perpetual disqualification from holding public office.
Tengco welcomes the charges, considering it an opportunity to uncover the truth and establish accountability within PAGCOR.
Commission Chair Fran Thorn strongly condemns Tabcorp’s unacceptable conduct, vowing to take action against licensees who obstruct investigations and fail to cooperate with the commission. All regulated entities, regardless of size, must be transparent, honest, and responsive to the commission’s directives. Attempts to hinder investigations will not be tolerated.