MANILA — A newly formed National Bureau of Investigation (NBI) task force has begun looking into the finances of the Philippine Southeast Asian Games Organizing Committee (Phisgoc) as authorities expand their investigation into the handling of funds for the 2019 Southeast Asian (SEA) Games.
NBI Director Melvin Matibag said Thursday that the bureau created “Task Force Cash Cow” to lead the probe, which stems from allegations of funding irregularities tied to the construction of sports facilities in New Clark City, Tarlac.
The task force is composed of investigators from the Public Corruption Division, the Special Action Unit, the Office of the Director, and NBI field personnel.
According to Matibag, the bureau’s preliminary review indicates that Phisgoc received about ₱6.7 billion in government funding from the Philippine Sports Commission, the Philippine Olympic Committee, and the Department of Budget and Management to finance the country’s hosting of the 2019 SEA Games.
He emphasized that the money came from public funds and would therefore be subject to close scrutiny.
As part of the investigation, the NBI will request records from the Commission on Audit, Securities and Exchange Commission, and Bureau of Internal Revenue to verify the committee’s financial documents, tax filings, and regulatory submissions.
Matibag said investigators also intend to account for donations and contributions from private organizations, noting that Phisgoc’s total budget could have surpassed ₱10 billion.
To facilitate the inquiry, the NBI has moved the scheduled appearance of several former Phisgoc officials to Monday and Tuesday, giving them more time to respond to the subpoenas.
Those expected to appear include former Phisgoc chairman Ramon “Tats” Suzara, former chief financial officer Dexter Estacio, and former corporate secretary John Lester Buenconsejo.
Matibag previously disclosed that Sen. Alan Peter Cayetano may also receive a subpoena if testimony from former officials establishes his involvement in matters under investigation.
The bureau is also examining why Cayetano was not listed as a member of Phisgoc’s board of directors despite his public assertion that he served as chairman of the committee that oversaw the Philippines’ hosting of the 2019 SEA Games.
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