Ex-Goldman trader now chasing smugglers

Pirates of the Caribbean

'I’ve initiated an investigation into every employee who’s violated our rules'.

Jamail Marohomsalic, a Customs official in the southern Philippine city of Davao, shuffles his feet and bows his head as his boss tells him he’s being investigated as part of an anti-corruption drive.

'That’s your signature, right ?' demands Commissioner Sunny Sevilla, pointing to a form that allowed the release of 20,000 tons of imported plastic resin at 29% less than the government’s benchmark price. Marohomsalic, who denies he did anything wrong, is surrounded by his local colleagues as Sevilla continues: 'This is not just against you, I’ve initiated an investigation into every employee who’s violated our rules'.

Bloomberg News reports that Sevilla, 45, is President Benigno Aquino’s latest crusader in his battle against graft.

The former Goldman Sachs trader in Hong Kong is turning his analytical skills to spotting anomalies in trade accounts and chasing smugglers who Aquino says cost the government more than $4.6bn a year -- enough to eradicate hunger in the Southeast Asian nation. Sevilla, who took office in December, has raised the bureau’s revenue more than 22% this year.

To access the complete Bloomberg article hit the link below:

Goldman Veteran Hunts Smugglers in Philippine Graft Fight

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