Bangko Sentral officer gets 24 years for graft

MANILA, Philippines – The Regional Trial Court (RTC) Branch 100 of Quezon City has sentenced Bangko Sentral ng Pilipinas (BSP) bank officer 2 Irene Sarmiento to a maximum of 24 years in prison for graft and violation of Republic Act 7653 or the Central Bank Act.

Sarmiento, while also employed as consultant of Air Material Wings Savings and Loan Association Inc. (AMWSLAI) from 2000 to 2001, misrepresented herself and made several loans amounting to P260,000 under the name of her sister Shirley Lazaro.

Aside from imprisonment, Sarmiento was perpetually disqualified from holding public office and ordered to pay a P200,000 fine.

In the charge, the Office of the Ombudsman stated that Sarmiento misrepresented her identity when she made the loans with AMWSLAI, an institution under the regulatory supervision of the BSP.

The anti-graft office also argued that Section 3(d) of RA 3019 and Section 27 (a) of RA 7653 prohibits public officials from accepting or having any member of his family accept employment in a private enterprise which has pending official business.

Also, Section 27 (d) of RA 7653 provides that “borrowing from any institution subject to supervision or examination by the Bangko Sentral shall be prohibited unless said borrowings are adequately secured, fully disclosed to the Monetary Board.”

RTC Judge Editha Aguba agreed with the ombudsman and sentenced Sarmiento to a maximum of eight years in jail for violating RA 3019 or the Anti-Graft and Corrupt Practices Act and a maximum of eight years more for each of the two counts of violations to RA 7653.