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Content creator Small Laude with husband Philip during a summer vacation in Siargao.
Small Laude via Instagram
MANILA, Philippines — Content creator Small Laude, through the law firm Divina Law, denied any involvement of his husband, Philip Laude, in illegal activities, following recent reports linking him to a controversial joint bank account with Rep. Edvic Yap (ACT-CIS Partylist).
In a statement on Saturday, January 3, the law firm said that Laude is a private businessman known for his legitimate enterprises and has never “participated in, benefited from, or facilitated any illegal transactions,” whether “directly or indirectly.”
According to Divina Law, there has been no corporation formed between Laude and Yap, and that the latter merely invited Laude to consider a "preliminary and exploratory" investment in a proposed joint venture before Yap’s election to public office.
“This discussion was preliminary and exploratory and never ripened into a formal partnership, corporation, or other juridical entity,” the Divina Law’s statement read.
“The joint venture was never implemented, no business operations were commenced, and no government project, pocurement, or transaction was ever pursued or undertaken. Upon Mr. Yap's election to public office, the contemplated venture did not proceed, and the bank account was closed, precisely to avoid any issue, misinterpretation, or appearance of impropriety,” it added.
While a bank account was opened in connection with this potential venture, the law firm was established when Yap was still a private citizen. It said that the account was opened lawfully with the sole intent of exploring a private business opportunity.
“Any attempt to link Mr. Laude to alleged irregularities or controversies involving public officeholders is therefore factually baseless and misleading,” it said.
The law firm further explained: “A mere invitation to invest—and preparatory steps taken before any individual assumed public office—do not constitute wrongdoing, illegality, or impropriety.”
On December 10, President Ferdinand Marcos Jr. said that the Court of Appeals has frozen almost 300 bank accounts, P16 billion worth of properties and other assets linked to the flood-control scandal and allegedly owned by Yap and his brother Eric.
Marcos said that the Anti-Money Laundering Council has placed numerous assets under its scrutiny, including 280 bank accounts and three securities accounts.
The investigation also covers 22 insurance policies and various other properties belonging to Eric and Edvic Yap, as well as Silverwolves Construction Corp. and Sky Yard Aviation Corp.
Among the high-value assets identified are a helicopter and seven additional aircraft.
