It was necessary for a third-party auditor to keep an eye on the profits of Philippine offshore gaming operators, which is not unusual. What is unexpected, however, is that the third-party auditor lacks a business licence. The agreement was struck in 2017 and the business is Global ComRCI.

The government hired a business with expertise in examining the profits of internet casinos to do the task. The corporation isn't entirely clear either, as it lacked the necessary papers, such a business permit. 

When it comes to the criminal scene, that's not all; in order to boost its apparent revenues, the firm also collaborates with a number of shady institutions.

What took place at the hearing: 

The hearing took place on January 23rd, a Monday. The head of the Senate committee, Sherwin Gatchalian, and other members of the committee have questioned the Philippine Amusement and Gaming Corporation (Pagcor). They were roast because to the arrangement with a P6 billion consulting contract with Global ComRCI, whose responsibility it was to keep an eye on all of the offshore gambling businesses in the Philippines. Because the company's records included significant contradictions, Pagcor had to carefully examine them. 

Regarding the concerns and issues in this instance, more is more to come. There has been tax leakage discovered at previous hearings. Pagcor, POGOs, and the Bureau of Internal Revenue all reported P9.1 billion in leaks. The inconsistent gross gaming revenues led the authorities to such conclusion. 

According to Gatchalian, his research group had discovered that Soleil Chartered Bank had said that Global ComRCI had at least $25 million in assets. It is around P1.3 billion, which is crucial because Pagcor needed at least P1 billion in available money when the position's bidding process got underway. 

The extra problems

Soleil was allegedly not registered in the Philippines and was not permitted to conduct business there, according to the Bangko Sentral ng Pilipinas. There are several accounts of different illegal actions involving the bank. 

Despite having their company location in Makati City, Global ComRCI lacks a licence to conduct business there. With the several employees of Pagcor, Gatchalian remarked, "I don't know how you were tricked. Unless you were deliberately tricked.

Vice President of Legal Affairs at Pagcor, Roderick Consolacion, claimed that everything had been permitted and that the bidding regulations were clear. Regarding the absence of Global ComRCI's paperwork, he made no additional remarks. 

When the court questioned him about the cause of the problems the firm had during the previous five years, he only said, "Yes, your honour."

Officials from Global ComRCI failed to attend the hearing despite being invited. 

To the Pagcor authorities, Gatchalian said, "The third-party auditor is not reputable and is not competent. How can you expect us to believe that the information they're providing to us in the form of information is reliable when the third-party auditor is not certified and lacks basic things like an address and a business permit?