Euro-gen charged for violating BSP currency circular
By Gerry Baldo 07/08/2011The Office of the Ombudsman yesterday ordered the filing of criminal charges against former Philippine National Police director for comptrollership Eliseo de la Paz and his wife, Maria Fe de la Paz, for violating Central Bank of the Philippines currency regulations in connection to the so-called “Euro-generals Case.”
The couple was charged with violating Circular No. 507 of the Bangko Sentral ng Pilipinas (BSP) which penalizes any person who brings into or takes out of the Philippines foreign currency in excess of $10,000 and fails to declare the same in writing.
According to the Office of the Ombudsman failure to declare money in excess of $10,000 is penalized under the BSP Circular in relation to Section 36 of Republic Act 7653 (New Central Bank Act)..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/nation/20110708nat2.html
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