PNP traces ransom money in cryptocurrency linked to Anson Que case
The Philippine National Police (PNP) has successfully traced and frozen a portion of the ransom money paid by the family of Chinese businessman Anson Que. According to PNP spokesperson Police Brigadier General Jean Fajardo, about USD 205,942—roughly P11.40 million—was found stored in cryptocurrency assets outside the Philippines27 jurisdiction.
The PNP Anti-Cybercrime Group (ACG) coordinated with foreign authorities to freeze this amount. “Nakapag-communicate po sila doon sa mga cryptocurrency outside of our jurisdiction, so naka-connect po ang ACG at they were able to request for the reservation at na ipa-freeze na po ito,” Fajardo explained.
Majority of ransom already withdrawn using USDT accounts
Despite the freeze, most of the ransom money, totaling around USD 1,365,113 or approximately P75.58 million, had already been withdrawn through a USDT account based in Cambodia. Fajardo added that this account was previously investigated by U.S. authorities for suspected money laundering activities.
The PNP is still verifying the full amount of ransom paid before the tragic deaths of Anson Que and his driver. While the family claimed they paid P200 million, authorities are comparing this figure with records from junket operations and e-wallet transactions.
“May mga iba-iba po nga reports po, at ongoing pa rin po sir yung ating investigation to determine talaga ilang amount po talaga26#8230; Kasi ang nangyayari po is mayroon pong pumasok na peso, and then may-convert po ng US dollars at na-convert ulit yan sa USDT. So, nagkakaroon po ng difference pagdating po sa peso, sa US dollar at saka sa USDT,” she said.
Cooperation with foreign counterparts underway
The PNP is working closely with foreign counterparts to trace the flow of funds, especially since the USDT issuers involved operate beyond Philippine authority. “Lahat po yan kailangan po nating ibangga lahat po ng mga statements po ng family doon naman sa mga pumasok na pera doon sa mga e-wallets po. Kaya ngayon po, ang Pilipinas po ay nakikipag-ugnayan po sa ating mga foreign counterparts because it would indicate26#8230; na may mga konektado po na mga USDT issuer na outside of the authority or jurisdiction po ng Philippine government,” Fajardo added.
This investigation also aims to review previous kidnapping cases where USDT was reportedly used for ransom conversions, highlighting a growing trend that concerns law enforcement.
National security concerns over ransom laundering
Robert Ace Barbers, chair of the House Committee on Dangerous Drugs, called the alleged laundering of Que27s ransom through junkets, cryptocurrency, and e-wallets a serious national security threat. He warned that this goes beyond ransom to involve a vast shadow economy exploiting the country27s financial system.
“This is no longer just about ransom26#8212;it27s about a vast shadow economy of crime that27s infiltrating and abusing our financial system26#8230; What we27re dealing with is a deeply entrenched network of foreign syndicates using the Philippines as a safe haven for financial crimes,” Barbers said.
He further explained that junkets and POGOs have become channels for money laundering, kidnapping, and possibly espionage, creating a toxic mix that endangers public safety and national security.
Case background and ongoing investigation
The bodies of Chinese businessman Anson Que and his driver were discovered in bags, duct-taped by the roadside in Rodriguez, Rizal last April 10. They were last seen alive on March 29 while en route to a meeting in Valenzuela and were reported missing to the PNP Anti-Kidnapping Group on April 30.
Authorities continue to pursue leads and coordinate internationally to unravel the full extent of the ransom money27s flow and the syndicates behind this heinous crime.