The RCBC's board committee also launched a separate probe into the bank's involvement in the money laundering scam. RCBC president Lorenzo V. Tan filed an indefinite leave of absence to give way to the investigation by the authorities on the case.[34][35] On 6 May 2016, despite being cleared of any wrongdoing by the bank's internal investigation, Tan resigned as President of RCBC to "take full moral responsibility" for the incident.[36][37] Helen Yuchengco-Dee, daughter of RCBC founder Alfonso Yuchengco, will take over the bank's operations. The bank also apologised to the public for its involvement in the robbery.
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