MANILA, Philippines - The Philippine Deposit Insurance Corp. filed on Thursday criminal charges against executives of the closed Export and Industry Bank for violating the PDIC Charter and the General Banking Law of 2000.
Jaime C. Gonzales, the bank's former chairman, Juan Victor S. Tanjuatco and Nilo L. Pacheco, Jr., former presidents, Teresita Q. de Ocampo, former vice president and chief financial officer, Alex Luis M. Pesigan, former senior vice president and head of treasury group, and Adeline L. Grimares, former Risk Management Group vice president were charged for irregularity, conducting business in an unsafe and unsound manner and violation of the General Banking Law.
The complaint, filed together with the Department of Justice, alleged that respondents authorized and allowed the payment of a $4.8-million success fee when the obligation to pay such fee has not arisen.
Of this amount, $3 million was received by AO Capital Partners Limited, where Gonzales was also the Chairman, PDIC said.
“The filing of these charges by the PDIC highlights our commitment to protecting the interests of the Filipino depositor. We in the DOF (Department of Finance), PDIC and attached agencies will not abide by practices that selfishly endanger the savings of Filipinos for the personal gain of a few. We intend to pursue the full application of justice in this case and, most importantly, we intend to uphold the faith of the Filipino people in a government that will protect them from malicious corporate interests,†Finance Secretary Cesar Purisima said.