The chief of a shuttered Romblon-based financial institution was recently convicted of three counts of falsifying public documents after submitting reports to the central bank that artificially inflated the rural bank’s deposit accounts.
In a statement, the Bangko Sentral ng Pilipinas said Angeles Robis, chair and president of the closed Rural Bank of Cajidiocan (Romblon) Inc., was found guilty by Judge Ma. Christina de Pio Lim of Branch 24 of the Metropolitan Trial Court of Manila in a decision promulgated last month.
He was sentenced to suffer imprisonment of six months up to two years, four months and one day. The court also ordered the former rural bank executive to pay a fine of P5,000 for each count.
The conviction stemmed from a criminal complaint filed in 2008 by the BSP’s Office of Special Investigation against Robis for submitting to the BSP three verified quarterly consolidated statements of condition for 2006 that reflected nonexistent deposits in the bank’s cash-in-bank account.
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In 2003, in an attempt to provide proof of the deposits, Robis presented to the BSP falsified certificates of time deposit totaling P45.3 million, supposedly issued by Land Bank of the Philippines’ United Nations Avenue Branch in Manila.
However, central bank’s verification showed that the time deposit accounts only had a balance of P285,000.
