Both Cale88 accounts closed in July 2026 – Where did the money go?

‘You can close the account. You cannot close the money trail.’

IMPEACHMENT adviser and trial spokesperson Ace Barbers on Wednesday called for authorities to follow the money trail after the Senate Impeachment Court heard that both Security Bank checking accounts of Cale88 Foods Corp. were closed in July 2026.

“Dalawang account. Parehong isinara noong July 2026. Ang simpleng tanong: saan napunta ang pera?” Barbers said.

Security Bank witness Leslie Cham testified that Cale88’s first checking account was opened in August 2024, while its second was opened in October 2025.

As of December 2025, Cham said the accounts had ending balances of ₱332,530.95 and ₱21,164.27, respectively.

Then, in July 2026, both accounts were closed.

“August 2024, binuksan ang unang account. October 2025, binuksan ang pangalawa. December 2025, may laman pa. July 2026, parehong sarado. Saan napunta ang pera?” Barbers asked.

He said the disclosure should prompt authorities to determine whether other accounts relevant to the impeachment proceedings have also been closed.

“At ilan pang bank accounts na lumilitaw sa impeachment trial ang naisara na? Kailan isinara? Saan inilipat ang pera?” Barbers asked.

Barbers said authorities should also determine whether any account closures or transfers were undertaken in anticipation of investigation or possible lawful asset-preservation measures.

“May mga account bang isinara o inilipat ang laman para makaiwas sa imbestigasyon o posibleng freeze order? Hindi natin dapat hulaan. Imbestigahan at sundan ang records,” he said.

“Na-withdraw ba? Inilipat ba sa ibang account? Sa ibang bangko? Sa ibang tao o kumpanya? May record iyan. Sundan natin.” Barbers suggested.

Barbers stressed that closing a bank account does not erase its transaction history.

“You can close the account. You cannot close the money trail. May pinanggalingan ang pera. May pinuntahan ang pera. Sundan hanggang dulo.” He said.

He said tracing the funds becomes even more important if any of the money is eventually established through lawful proceedings to have originated from or been connected to illegal transactions.

“Kung mapatunayang may perang galing sa ilegal na transaksyon, paano ito hahabulin at mababawi ng gobyerno kung hindi natin aalamin kung saan ito napunta?”

“Hindi puwedeng dumating tayo sa dulo at ang sagot ay: ‘Sarado na ang account. Wala na ang pera. Hindi na natin alam kung nasaan.’” Barbers said.

Barbers said the appropriate government authorities should follow the financial trail and, whenever legally warranted, identify and preserve assets that may eventually be subject to forfeiture or recovery.

“Hindi kailangang manghula. Bank records ang sundan. Kung na-withdraw, may record. Kung na-transfer, may destination. Kung ginamit sa ibang transaction, sundan kung saan humantong.” Barbers said.

“July 2026 isinara ang dalawang account. Pero hindi nagsara ang money trail.” He said.

Barbers added: “Follow the money. Find the assets. And if the law establishes that any of it came from illegal transactions, recover every peso that can lawfully be recovered.”