RCBC fires top 2 branch execs for falsification, breach of policy
MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) on Tuesday terminated branch manager Maia Santos-Deguito and assistant manager Angela Torres for falsification of documents in connection to the $81-million money laundering scheme.
RCBC counsel Macel Fernandez-Estavillo said that the top two officials of the bank's Jupiter branch also violated bank policies and procedures.
"The bank said Deguito and Toress' breaches facilitated the alleged laundering of $81 million of remittance that is now being investigated by the Senate and other government agencies," Estavillo said in a statement.
The bank is also set to file charges against Deguito and Torres by next week, the lawyer said.
Estavillo added that other branch and bank officials involved in the case may face sanctions ranging from termination to suspension when the bank completes its internal investigation.
Meanwhile, the Anti-Money Laundering Council has filed charges against businessmen Kim Wong and Weikang Xu for their alleged involvement in the banking heist.
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