LAWMAKERS have filed resolutions asking the House of Representatives to look into unpaid loans, reaching over P2.1 billion, that were granted to the owners of the shuttered Banco Filipino.
In House Resolution 610 filed on Monday, party-list representatives Enrico Pineda of 1-Pacman, Francisco Datol of Senior Citizens, Virgilio Lacson of Manila Teachers, Ron Salo of Kabayan and Jorge Antonio Bustos of Patrol sought a congressional inquiry in aid of legislation into the alleged dubious and suspicious unpaid loans extended to the family of Alberto “Bobby” Aguirre, his heirs, relatives and directors and other officers of the bank.
The lawmakers said the Bangko Sentral ng Pilipinas (BSP) has openly stated that the bank owners and officers of Banco Filipino have huge unpaid loans to Banco Filipino.
According to them, a congressional probe will help them craft new laws that would prevent bank owners and officials from abusing their positions to enrich themselves.
Banco Filipino was ordered closed by the Monetary Board of the BSP on March 17, 2011, and placed under receivership for alleged “dubious, unsafe and unsound banking practices,” among other cited violations.
Among others, Banco Filipino approved loans to its directors, officers, stockholders and related interests (Dosri loans) equivalent to P2.192 billion or 53.5 percent of its total loans, the solons said.
The lawmakers noted the BSP has filed criminal chargers against several directors and officers of Banco Filipino for falsification, grant of illegal loans and major violations of banking laws, rules and regulations.
The lawmakers quoted the BSP allegation that bank officials window-dressed accounting records to conceal its true financial conditions to the great prejudice of its depositors, creditors, investors and stockholders. Banco Filipino had 177,652 depositors, 53 percent of whom had deposits of P5,000 and below.
Also, the lawmakers filed House Resolution 609 urging the lower house to investigate the “fraudulent disbursements allegedly committed by Banco Filipino officers and directors prior to its closure in 2011.” Such disbursments reached P789.4 million, they said.
The resolution said Banco Filipino also paid a partner of a law firm, who was one of its directors, P225.8 million despite its financial troubles.