Que ransom withdrawn by foreign account, says PNP

Que ransom withdrawn by foreign account, says PNP | Daily Tribune

The Philippine National Police (PNP) announced Sunday that it has traced and frozen a portion of the ransom money paid for the release of Chinese businessman Anson Que, who was later found dead along with his driver.

PNP spokesperson Police Brigadier General Jean Fajardo said that $205,942 or approximately P11.40 million was located in cryptocurrency outside Philippine jurisdiction and subsequently frozen by the PNP Anti-Cybercrime Group (ACG).

“They were able to communicate with cryptocurrency entities outside of our jurisdiction, so the ACG connected and they were able to request for the reservation and it has been frozen,” Fajardo said.

However, she cited that the majority of the ransom, totaling $1,365,113 or approximately P75.58 million, had already been withdrawn using a USDT account based in Cambodia.

Fajardo also revealed that the account used for the withdrawal had previously been under investigation by authorities in the United States for suspected money laundering.

The PNP spokesperson also disclosed that the PNP is still working to determine the total amount of ransom paid for the release of Que and his driver before they were killed.

While the family reported paying P200 million, Fajardo said they are comparing this amount with funds collected and recorded from junkets and e-wallets.

“There are different reports, and our investigation is still ongoing to determine the actual amount... Because what happened was that a peso amount came in, then some were converted into US dollars and converted again to USDT. So, there’s a difference when it comes to the peso, US dollar and USDT,” Fajardo said.

“We need to match all the statements of the family with the money that entered the e-wallets. That is why the Philippines is currently coordinating with our foreign counterparts because our financial investigation indicates that there are connected USDT issuers outside the authority or jurisdiction of the Philippine government... This is not just in the case of Anson Tan, and we will backtrack to previous kidnapping cases where USDT was also used for the conversion of ransom money,” she added.

Earlier, House Committee on Dangerous Drugs chairperson Robert Ace Barbers described the alleged laundering of Que’s ransom through junkets, cryptocurrency, and e-wallets as a national security threat.

“This is no longer just about ransom — it’s about a vast shadow economy of crime that’s infiltrating and abusing our financial system. What we’re dealing with is a deeply entrenched network of foreign syndicates using the Philippines as a safe haven for financial crimes,” Barbers said.

“These are not isolated incidents. Junkets and POGOs have become channels for money laundering, kidnapping, and possibly even espionage. It’s a toxic mix that’s endangering the safety of our people and the integrity of our financial and national security systems,” he added.

To recall, the bodies of Anson Que and his driver were discovered inside bags and duct-taped along a roadside in Rodriguez, Rizal, on 10 April. They were last seen alive on 29 March en route to a meeting in Valenzuela and were reported missing to the PNP Anti-Kidnapping Group on 30 April.