The Regional Trial Court (RTC) and the Municipal Trial Court in Cities (MTCC) of Bayawan City, Negros Oriental convicted three former officers of now closed Rural Bank of Basay (Negros Oriental), Inc. (RB Basay) for violation of Republic Act (RA) No. 8791 (The General Banking Law of 2000) and the Revised Penal Code (RPC).
The courts found the bank’s former President/Manager Amorsolo L. Jordan, former Cashier Herelyn B. Gaga-a, and former Loan Collector Rene R. Silorio guilty of the criminal charges filed by the Bangko Sentral ng Pilipinas (BSP) with the Department of Justice in 2019.
The criminal cases arose from the participation of accused Jordan, Gaga-a, and Silorio in the processing, approval, and grant by RB Basay of several loans to its Directors, Officers, Stockholders and Related Interests (DOSRI) totaling Php 393,500.00 and one fictitious loan amounting to Php 521,000.00.
The BSP discovered the fraudulent loans during an investigation of the bank’s loan transactions after its closure.
In its decision dated 30 March 2021, RTC-Bayawan found both Jordan and Gaga-a guilty beyond reasonable doubt of violation of RA No. 8791 and sentenced them to imprisonment of two (2) to six (6) years for each of the nine counts.
Separately, in a decision dated 30 March 2022, MTCC-Bayawan found both Jordan and Gaga-a guilty of Falsification of Commercial/Public Documents under the RPC, and sentenced them to imprisonment of four (4) months to one (1) year and one (1) day, and to pay a fine of Php 1,000.00. Moreover, in another decision of even date, the same court found both Jordan and Silorio guilty of Falsification of Private Documents by Private Individuals under the RPC. Jordan was sentenced to suffer the penalty of imprisonment of four (4) months and one (1) day to one (1) year and one (1) day, and to pay a fine of Php1,000. Silorio was sentenced to suffer the penalty of imprisonment of four (4) months and to pay a fine of Php 1,000.00.
The BSP is committed to fostering financial stability and protecting public interest through the implementation of good governance practices and compliance with existing laws among its supervised financial institutions.
