Guzman Acain announced the closure of an anti-money laundering case at the Regional Trial Court of Manila. The lead counsel, Atty. Alex Acain, said in a post on social media that the court ruled in his client’s favor and ordered the bank account unfrozen.
Guzman Acain represented a client whose bank account at Banco de Oro (BDO) was ordered frozen after the Anti-Money Laundering Council (AMLC) — the agency responsible for investigating and flagging suspicious accounts — linked it to the illegal drug trade. The matter was subsequently heard before the Regional Trial Court of Manila, sitting as a designated anti-money laundering court. After due notice and hearings, the court lifted the Provisional Asset Preservation Order (PAPO) previously issued against the account, finding no evidence that it had been used in unlawful activity.