(9.März) Various sources told the Inquirer that the money, worth almost P3.7 billion at the prevailing exchange rate, were channeled to a foreign exchange dealer and then transferred to casinos—Solaire Resort and Casino, City of Dreams and Midas—where they were converted into chips for betting at the gaming tables, then converted back into cash and remitted to accounts in Hong Kong soon after.
All told, these transactions comprise the largest documented case of money laundering ever uncovered in the country by regulators.