Cashier of La Union power co-op indicted

AGOO, La Union, Philippines – The head of the cashiering section of the La Union Electric Cooperative Inc. (Luelco) was charged with 19 counts of qualified theft after she allegedly amassed more than P75 million from collections of the utility firm.

Investigating prosecutors Gaudencio Valdez Jr. and Braulio Tade, in their resolutions approved by provincial prosecutor Danilo Bumacod, found sufficient evidence to indict Luelco cashier Cecilla Olarte for qualified theft.

Valdez resolved eight of the 19 cases of qualified theft based on the complaint of Luelco general manager Ramon Posadas, while Tade resolved the other cases.

Olarte, however, denied any wrongdoing, claiming that the undeposited collections were given as cash advances to Luelco officials, employees and contractors.

During the investigation, Olarte though failed to show proof where the collected amounts went to.

The prosecutors said Olarte’s failure to account for the money she collected but which she failed to deposit “can only lead to one conclusion that she took the money belonging to Luelco and used it for her own personal use and benefit.”