Mike Arroyo got $900K from brother Iggy to buy 2nd hand choppers – AMLC
Former First Gentleman Jose Miguel “Mike” Arroyo withdrew over $900,000 from the bank account of his brother, the late Negros Oriental Rep. Ignacio “Iggy” Arroyo, to buy the second hand helicopters he would later sell to the Philippine National Police, a ranking official of the Anti-Money Laundering Council said.
Facing the magistrates of the Sandiganbayan Seventh Division, AMLC Deputy Director Jerry Leal said their intelligence analysis showed Mike withdrew $408,067.06 and $509,065.41 from the bank account of Iggy on February 27, 2004.
“The supposed match is a withdrawal from the accounts of Ignacio T. Arroyo… I think it’s 8th floor, LTA Building, Perrea Street, Legaspi Village, Makati City,” he said during the hearing Thursday (June 21).
The money from Iggy’s bank account was reportedly used to fund the purchase of five second hand helicopters from businessman Archibald “Archie” Po of Lionair Inc.
Po earlier testified that Mike sold the choppers as brand new to the PNP in 2009 for P105 million.
Mike is facing graft charges in connection with the allegedly anomalous deal.