A retired member of the Philippine National Police Highway Patrol Group has accused Land Bank of the Philippines (LandBank) of failing to explain the disappearance of nearly P1 million from his retirement savings.

Police Senior Master Sgt. Andres Cabagua Oliver, 59, of Tondo, Manila, said he discovered the discrepancy after checking his account, where his retirement benefits had been deposited.

Oliver retired from the police service on 30 November last year and had received more than P3 million in retirement funds.

DAILY TRIBUNE has been trying to reach out to LandBank for a reaction to no avail at press time.

Oliver said he made several withdrawals from automated teller machines, usually within the daily limit of P20,000 to P25,000, to cover house repairs, medication and other expenses.

However, after requesting a printed bank statement from the LandBank Tayuman branch, Oliver said he discovered several withdrawals that he insisted he did not make.

According to Oliver, the remaining balance in his account was less than P1 million.

“I was shocked. I was careful with my withdrawals because this is the money I will live on after retirement,” he said.

Oliver is now seeking assistance in recovering the funds he believes were taken from his account.