Businessman Philip Laude has denied allegations linking him to any illegal activity, calling claims circulating online “factually baseless and misleading.”
In a statement posted on the personal Facebook blog of his wife and social media personality Small Laude on December 3, Laude’s legal counsel said he has never been involved in any illegal transaction or scheme.
“We categorically and unequivocally deny any insinuation that Philip Laude has ever been involved in any illegal activity, whether by himself or in collaboration with any other person,” the statement said.
The statement was issued by Divina Law, which described Laude as a private businessman with a long-standing record of lawful and legitimate enterprise.
It also addressed claims of a supposed business relationship between Laude and Edvic Yap, stressing that no corporation or formal partnership was ever formed.
According to the statement, Yap merely invited Laude to consider investing in a proposed joint venture before Yap’s election to public office. The discussion was preliminary and exploratory and did not result in any formal business entity.
The law firm said a bank account was opened when Yap was still a private individual, solely in contemplation of a potential private business venture. It added that the joint venture was never implemented, no business operations were commenced, and no government project or transaction was pursued.
Following Yap’s election, the statement said the planned venture did not proceed and the bank account was closed to avoid any issue or appearance of impropriety.
“Any attempt to link Mr. Laude to alleged irregularities or controversies involving public officeholders is therefore factually baseless and misleading,” the statement said.
The statement added that Laude reserves all his rights under the law and remains committed to lawful business practices and the protection of his name and reputation.
Philip Laude became part of a public controversy after his name allegedly appeared in documents linked to a government probe into suspicious financial transactions connected to flood control projects.
Reports claimed that a joint bank account he previously shared with Edvic Yap was among those listed by the Anti-Money Laundering Council for freezing.
The account drew attention because it appeared in the same batch as accounts tied to contractors and firms under investigation.
