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Corruption at Development Bank of the Philippines DBP
« on: December 25, 2017, 07:25:30 PM »
Sandiganbayan issues arrest warrants in DBP 'Behest Loan' case
01 August 2013, Press Release Ombudsman

THE Sandiganbayan ordered the issuance of warrants of arrest in the two graft cases filed by the Office of the Ombudsman against former Development Bank of the Philippines (DBP) officers and private individuals arising from DBP’s grant of loans to Deltaventures Resources, Inc. (DVRI).

In a six-page Resolution penned by Justice Jose Hernandez and concurred in by Justices Samuel Martires and Maria Cristina Cornejo, the Sandiganbayan Third Division ordered the arrest of former DBP officers Patricia Sto. Tomas, Alexander Magno, Ramon Durano IV, Floro Oliveros, Renato Velasco, Benedicto Ernesto Bitonio Jr., Arturo Baliton, Perla Soleta, Warren De Guzman, Teresita Tolentino, Marissa Cayetano, Nelson Macatlang, Rodolfo Cerezo, and DVRI President Josephine Manalo and Goldenmedia Corporation Treasurer Ma. Lourdes Torres.

In denying the various motions filed by the accused, the Court found that “probable cause exists for the issuance of warrants of arrest against all the accused-movants” after it “personally, independently and judiciously examined and evaluated the resolution and order of the Office of the Ombudsman x x x [and the] records and evidence to support the same[.]”

The Court also denied the request to subpoena the Chief Records Officer of the Office of the Ombudsman to submit a copy of the alleged original/reviewed resolution for being moot, after the request was withdrawn in open court.

“This Court does not find any need of additional supporting evidence solely for the purpose of determining probable cause,” the Court added.

It also ruled that the other arguments raised are “matters of defense which are appropriate in the trial proper.”

The anti-graft court found no need to issue warrants of arrest against former DBP President and Vice-Chairman Reynaldo David and officers Franklin Velarde, Joseph Donato Pangilinan, Miguel Romero, Edgardo Garcia, Armando Samia, Rolando Geronimo, Jesus Guevarra II, Crescencia Bundoc, and businessman Roberto Ongpin since they have already posted bail.

In resolving the complaint filed by DBP Chairman Jose Nuñez and DBP President and Chief Executive Officer Francisco Del Rosario, Jr., Ombudsman Conchita Carpio Morales, by Resolution signed on September 25, 2012, found probable cause to indict them for violations of Section 3(e) of Republic Act No. 3019 (Anti-Graft and Corrupt Practices Act).

The Ombudsman Resolution found that DBP extended two loan facilities in the amounts of P150 million and P510 million in April 2009 and November 2009, respectively, to DVRI, even though DVRI was undercapitalized; the values of the securities did not comply with the collateral-to-loan ratio prescribed by the Central Bank and DBP’s own credit policy memoranda; there are indications that corporate layering was resorted to; and the proceeds of the second loan were used to purchase DBP-owned stocks in Philex Mining Corporation, although the private company was not licensed by the Securities and Exchange Commission as a securities dealer, and with reported indicia of insider trading, all of which were orchestrated in a span of less than a year.##

The said Resolution was affirmed in an Order signed by Ombudsman Morales on January 8, 2013 that denied the motions for reconsideration filed by the accused, thereby proceeding with the filing of the criminal Informations in the Sandiganbayan.

On the administrative aspect of the case, Ombudsman Morales, by Decision signed on November 21, 2012, ordered that Bitonio Jr., Magno, Velasco, Velarde, Garcia, Guevarra II, Bundoc, Baliton, Macatlang, Cayetano, Tolentino, Cerezo, and De Guzman be dismissed from the service, after having been found administratively liable for Grave Misconduct and Conduct Prejudicial to Best Interest of the Service.

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