Court convicts 19 bank officials, employees of fraud

A Mandaue court has convicted 19 officials and employees of the Rural Bank of Subangdaku, Inc. (RBSI) for falsification of public and commercial documents, the Department of Justice (DOJ) said Monday.

“This as the Mandaue Municipal Trial Court in Cities (MTCC) found RBSI personnel guilty beyond reasonable doubt for conspiring to defraud the bank billions of pesos, convicting all of them for 34 separate counts of falsification of documents,” the DOJ said in a statement.

All of the accused were sentenced to imprisonment from one year to three years and to pay a fine of P3,000 with a subsidiary imprisonment in case of insolvency.

“The court ruled that RBSI  officers/personnel made it appear that certain individuals obtained a loan from RBSI when in truth and in fact, never did nor even participated in the preparation of the documents related thereto,” the Justice Department said.

The case stemmed from a complaint filed by the Philippine Deposit Insurance Corporation (PDIC) before the DOJ in 2009.

According to the court, the defense failed to prove its innocence through denial without being backed by clear and substantial evidence. Aside from this, the court said that the chain of events surrounding the involvement of the accused were supported by tangible proof.

"Banking and financial institutions play a crucial role in nation building to fuel the needs of every person, business and organizations,” Justice Secretary Jesus Crispin Remulla said in a statement.

"To defraud the same is far worse than stealing from every Filipino, taking away their dreams, future and very own lives. The DOJ issues this stern warning,” he added. —RF, GMA Integrated News