Arrest warrant out for six bank officials

Six officials of the foreclosed Police Savings and Loan Association, Inc. (POSLAI) have been issued a warrant of arrest due to the estafa charges filed by its disgruntled depositors in Lanao del Sur.

Judge Saidali Dimangadap of the Lanao del Sur Municipal Circuit Trial Court issued the warrant against POSLAI chairman retired police Col. Vicente Palmon, board of trustees retired police Maj. Cesar Baria, Felix Pineda, SPO4 Radito Perez and civilian officers Yolando Sales and Cesar Sanvictores.

The case was filed by several policemen-depositors of POSLAI branch in Lanao del Sur after they failed to withdraw their deposits.

Armed with the said warrant, operatives of the Western Police District (WPD) arrested last Monday Baria and Sales while the two were attending a court hearing at the Manila City Hall for a separate estafa charges filed by a group of Manila policemen-retirees against the same set of bank officials.

Warrant Section chief Senior Inspector Virgilio Dacara said Baria and Sales would be temporarily detained at the WPD jail while awaiting the commitment order from the court.

Dacara said the WPD has no sufficient fund to transfer the accused to Lanao del Sur for their arraignment.

"We will just have to wait for the Lanao del Sur authorities to fetch the accused from our custody. Meanwhile, the two accused would have to spend some time here in our jail since the court has not set the amount of bail for their release," Dacara explained.

Thousands of policemen, firemen and jail guards nationwide are reportedly set to file more estafa charges against POSLAI officials over the bank’s failure to pay its financial obligations to its depositors. — Nestor Etolle