19 bankers convicted of fraud in Mandaue
The court said the RBSI officers and personnel made it appear that certain individuals obtained nonexistent loans from the bank
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The court said the RBSI officers and personnel made it appear that certain individuals obtained nonexistent loans from the bank
The Department of Justice (DoJ) has secured the conviction of 19 officers and employees of the Rural Bank of Subangdaku Inc. (RBSI) for falsification of public and commercial documents.
The Mandaue Municipal Trial Court in Cities (MTCC) found the RBSI personnel guilty beyond reasonable doubt of conspiring to defraud the bank of billions of pesos.
Each of the 19 officers was convicted of 34 counts of falsification of documents, drawing prison sentences of from one year to more than three years and six months.
The court said the prosecution sufficiently established the participation and guilt of all the accused who falsified public and commercial documents.
The court said the RBSI officers and personnel made it appear that certain individuals had obtained nonexistent loans from the bank.
The complaint was filed before the DoJ by the Philippine Deposit Insurance Corporation after RBSI declared a bank holiday in early 2009, resulting in clients being unable to withdraw their money.
The court said the prosecution sufficiently established the participation and guilt of all the accused who falsified public and commercial documents.
It ruled that the defense failed to persuade the court of their innocence by merely denying their involvement in the massive fraud without backing this with clear and substantial evidence.
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