A former president and two other employees of closed Rural Bank of Basay (RB Basay) in Negros Oriental were convicted by local courts of crimes relating to central bank violations amounting to P914,500.
In a statement Friday, June 3, the Bangko Sentral ng Pilipinas (BSP) said the Regional Trial Court (RTC) and the Municipal Trial Court in Cities (MTCC) of Bayawan City, Negros Oriental convicted RB Basay former president/manager Amorsolo L. Jordan, former cashier Herelyn B. Gaga-a, and former loan collector Rene R. Silorio of criminal charges it filed with the Department of Justice in 2019.
The crimes committed were in violation of Republic Act No. 8791 (The General Banking Law of 2000) and the Revised Penal Code (RPC).
The BSP said Jordan, Gaga-a, and Silorio were accused and convicted of crimes relating to the “processing, approval, and grant” of P393,500 loans to Directors, Officers, Stockholders and Related Interests (DOSRI) and the release of a P521,000 fictitious loan.
The BSP releases these court orders and criminal charges in a show of its commitment to “fostering financial stability and protecting public interest through the implementation of good governance practices and compliance with existing laws among its supervised financial institutions.”
“The BSP discovered the fraudulent loans during an investigation of the bank’s loan transactions after its closure,” it added.
The local courts in a decision rendered on March 30, said both Jordan and Gaga-a were “guilty beyond reasonable doubt” and ordered jailed for two years to six years.
The MTCC-Bayawan also found both Jordan and Gaga-a guilty of falsification of commercial/public documents under the RPC, and sentenced to four months to one year and a day imprisonment, and to pay a fine of P1,000, said the BSP.
Jordan and Silorio were also found guilty of falsification of private documents by private individuals under the RPC. Jordan was sentenced an imprisonment of four months and one day to one year and one day, plus a P1,000 fine. Silorio will face only four months jail time and to pay the courts P1,000.