Broadcaster Anthony Taberna has called out the Bangko Sentral ng Pilipinas to exercise its mandate and sanction EastWest Bank for allegedly allowing the unauthorized transfer of P15.38 million to his former finance chief.
Taberna owns Taberna Foods Inc. which maintains an account at EastWest Bank.
He said it has been more than a year since he filed an administrative complaint before the BSP against EastWest Bank and its UP Village branch manager Gualberto Baluyut, who allegedly allowed the transfer of P15.38 million to Ernie Patrick Aquino, Taberna's former employee.
"What I just want to relay, specifically to BSP Gov. (Felipe) Medalla, is that they should at least have a swift decision on this kind of complaint," Taberna said.
He said that if this can happen to him, "what more for those who don't have access to the media."
"It's not a call from us but from the general banking clients as well," said Taberna.
Medalla has yet to respond to Taberna's calls and messages.
Taberna said he filed an administrative complaint in June 2021, accusing Aquino of allegedly conniving with Baluyut. He said the fund transfers resulted in the shutdown of branches of his Ka Tunying chain of bakeries and restaurants.
"We used to have 10 branches before this happened, while the pandemic also hit us. Ang natira sa amin ay tatlo na lang but we regained momentum and we were able to keep our two branches," he said.
What made it worse, according to Taberna, was that they had to settle debts to suppliers and lessors at NAIA and SM when they thought they had been paying monthly.
He said the unpaid lease was around P2 million, while unpaid obligations to suppliers reached P1 million.
"Our operation was greatly affected, and we laid off some personnel because of this criminal act. I hope the BSP can do something about this because I think EastWest has been notorious for these kinds of acts," said Taberna, citing some reactions he received on social media.
"Some of them also filed complaints at BSP, but the regulator just referred the complaint to EastWest management. They should be the regulatory body that should sanction the bank."
Consumers with issues against banks and other financial institutions or BFIs regulated by the central bank are enjoined to file their complaints before the BSP Financial Consumer Protection Department.
The BSP's FCPD, however, is more of a conciliation avenue encouraging BFIs and their clients to amicably settle their differences.
Last March, Taberna also filed complaints of qualified theft against Aquino and Baluyut at the Quezon City Regional Trial Court Branch 216.
A lawyer Daily Tribune contacted said the BSP may be deferring to the case filed in court. Taberna, however, said he would be willing to withdraw the court case if the BSP can facilitate a resolution of the issue with the bank.
EastWest denies allegations
In a 112-page counter-affidavit submitted to the trial court, Baluyut denied Taberna's allegations.
"I vehemently deny under oath the allegations contained in the Complaint-Affidavit of Antonio T. Taberna, Jr. dated 14 April 2021, most particularly the allegation of connivance or conspiracy with respondent Ernie Patrick Y. Aquino contained in paragraph 19 (b) of the Complaint, for being false and inaccurate and for lack for basis in fact and in law," he said.
"First and foremost, I do not personally know Respondent Aquino. I only knew Respondent Aquino professionally in the course of the discharge of my functions as an officer of EastWest Bank. It was in 2017 when I first learned about A. Taberna Foods Inc. They have a branch in NAIA Terminal 3 where we dine during that time," he added.
Facts of the case
In his complaint affidavit, Taberna said he hired Aquino in June 2016 and promoted him as finance department head in 2018.
The broadcaster said Aquino convinced them to open payroll accounts at EastWest Bank-UP Village because he is well acquainted with its branch manager Baluyot.
The board agreed and opened a payroll checking account under the name of Taberna Foods which was enrolled in EastWest Bank's e-Credit facility.
But in November 2020, various checks issued by Taberna Foods bounced.
Taberna said he discovered Aquino opened seven other bank accounts under the name Taberna Foods without submitting to EastWest Bank a secretary's certificate or board resolution.
"Baluyut allowed the opening of all the accounts notwithstanding the fact that they pertained to different branches of Ka Tunying's Cafe throughout Luzon. Despite lack of authority and supporting documents, Baluyut allowed the opening of these accounts in clear violation of existing banking regulations," he said.
Taberna suspected Baluyut let Aquino alter the system administrator of the accounts, permitting the latter to be designated as "approver."
The broadcast journalist later found out via a succeeding audit that Aquino allegedly get hold of P15,381,644.09 through a series of "unauthorized electronic fund transfers" from company accounts with EastWest Bank to his bank accounts from August 2018 to November 2020.
Upon further scrutiny, it was discovered that while the transactions were intended for the salaries of employees in EastWest Bank's e-Credit facility, voluminous transfers were made in one month on random dates beyond normal payroll periods.
A P500,000 minimum transaction within one banking day in cash is a red flag, according to Philippine banking laws.
Taberna reiterated that his former finance officer Aquino was not authorized to initiate, process, and approve any fund transfers from the company account other than for payroll purposes.
He alleged that despite the "unusual and suspicious fund transfers," EastWest Bank and its UP-Village branch manager never notified his company about the irregularity.
Taberna said that before he filed a case, EastWest management communicated with him, saying it was not liable for the losses of the amount, as transactions made by Taberna's finance officer Aquino were authorized by the management.