Comelec Chair Dismisses Allegations of Offshore Accounts in Cayman Islands

MANILA — George Garcia, the chairman of the Commission on Elections (Comelec), announced on Wednesday that inquiries to two banks in the Cayman Islands revealed no accounts under his name, refuting allegations made by SAGIP party-list Rep. Rodante Marcoleta.

According to Philippines News Agency, both Scotiabank and Cayman National Bank have officially confirmed that the alleged offshore accounts do not exist. These findings come in response to claims suggesting Garcia had engaged in financial activities outside the Philippines. “At least, we proved we have no accounts in these Cayman Islands banks,” Garcia stated, providing clarity on the accusations leveled against him.

Further detailing the banks’ responses, Garcia explained the stringent requirements for foreigners wishing to open accounts, including the necessity of appearing in person at the banks. This information serves to counter the plausibility of the accusations, as Garcia affirmed he has never visited the Cayman Islands. These allegations were part of broader accusations by Marcoleta, who claimed that Garcia had received deposits from banks in South Korea, pointing to a pattern of supposed international financial dealings.