CEBU CITY (PNA) — District Collector Ronnie Silvestre of the Bureau of Customs (BOC) Port of Cebu has ordered the seizure of Hong Kong $1 million that two Chinese passengers did not declare when they arrived in Cebu from Hong Kong last Saturday.

At the rate of R5.20 to one HK dollar, the money seized has an equivalent amount P5.2 million.

The two Chinese nationals arrived at the Mactan-Cebu International Airport at 11:55 a.m. last March 6 on board Cathay Pacific flight CX-921.

Customs officials at the Mactan airport said it is surprising for the two foreigners to bring in and not declare that much amount of money.

They said the money might be campaign funds for a candidate in the May 2010 elections, or it might come from illegal sources in China or Hong Kong to be invested in Cebu through a money laundering scheme.

Silvestre tasked lawyer Edward James Dy Buco, Chief of the Port of Cebu Legal Division, to prepare the warrant of seizure and detention (WSD) against the money.

Once such WSD is issued, the two Chinese nationals will be summoned to appear on seizure and forfeiture proceedings for them to explain why the money should not be forfeited in favor of the Government.

Dy Buco is also valuating whether the two Chinese nationals will be criminally charged for violating the Customs and Tariff Code of the Philippines (TCCP) and the rules and regulations of the Bangko Sentral ng Pilipinas (BSP) for keeping the money secret.

The two Chinese nationals were accompanied by officials of the Philippine Amusement and Gaming Corp. (Pagcor) to Silvestre’s office where they tried to explain that the money they were carrying is owned by Lucky Star, a foreign firm operating within the Philippine Amusement and Gaming Corporation (PAGCOR) casino at the Waterfront Mactan Airport Hotel.