The case, recently filed by lawyer Cesar Jimenea, Jr. and the Crusaders against Graft and Corruption in NPC, a watchdog employees group, charged Alcordo, Napocor corporate secretary Alberto Pangcog, and other Napocor officials with ‘having defrauded and plundered the coffers of NPC in the amount of P470-million".
Alcordo is scheduled to retire at year end and Malacañang is said to be considering Napocor career official Roland Quilala as Alcordo’s replacement.
The Power Bill was ratified by the House of Representatives on May 31 this year, the last day of the three-day special session called by President Arroyo with the Power Bill on top of the agenda.
Documents submitted to Ombudsman Aniano Desierto shows that at the start of the special session on May 28 this year, Napocor released some P470-million to fund district power projects proposed by congressmen under the "O Ilaw" rural electrification program hatched by Estrada administration.
Virtually shelved after it was launched in October, 2000, the "O Ilaw" program was suddenly switched on when Congress convened for its May 28 to 31 special session.
Documents show that the following series of events occurred as Congress opened its special session last May 28:
Allan Avellana, deputy administrator of the National Electrification Administration, the lead agency for rural power projects, wrote Napocor president Jesus Alcordo requesting the release of P470-million for the "O Ilaw" program. Avellana asked that the fund be transferred to NEA’s account at the Commonwealth Ave. branch of the Development Bank of the Philippines (DBP).
Alcordo immediately issued a memorandum authorizing Antonio Ingco, Napocor vice president for Finance, to transfer P470-million in NPC funds to NEA’s national electrification subsidy account no. 0-0528-455-6 with the DBP Commonwealth branch.
At the same time, Alcordo issued a voucher to said DBP branch authorizing the fund transfer. The transfer of the P470-million from the supposed cash-strapped Napocor to NEA was affected before the end of banking hours last May 28.
The P470-million was reportedly released without the approval of the Napocor board.
At the time of the fund transfer, there were 149 pending congressional requests for rural electrification funds under the "O Ilaw" program.