Court orders arrest of 3 ex-bank execs

CEBU, Philippines - The Regional Trial Court has ordered the arrest of three former executives of the defunct Rural Bank of Subangdaku Inc., who were among the over 20 accused in the criminal case for creating nearly P2.6 billion of fictitious loans, after they failed to appear in yesterday’s arraignment.

RTC Branch 56 Judge Teresita Galanida ordered the arrest of accused Patrick Donhito, Vicente Laurito and Maribel Morano.  

The court also deferred their arraignment and the rest of the accused, including Lapu-Lapu City Mayor Paz Radaza.

The court has reset the arraignment on September 24, 2015 because of the pending motions that are yet to be resolved. Among them is the motion to quash filed by accused Peter and Gloria Gaisano and Sonia Go and the motion for judicial determination of probable cause filed by Radaza.

Lawyer Bonifacio Alentajan, counsel for the Gaisanos and Go, said that they cannot proceed with the arraignment unless the pending motions are disposed with because it will affect the case.

Alentajan said they have filed their motion in October and he is expecting the court to resolve it by March or April next year.

“We cannot proceed with the arraignment unless there is a resolution by the court with regards to our motion,” Alentajan said.

Lawyers Hansen Dy and Marie Michelle Go, counsel for Radaza, said their motion for judicial determination of probable cause remains pending.

The defense counsels explained that the resolution of the pending motions is necessary before the arraignment because a favorable ruling would tantamount to a dismissal of the charges.

The Department of Justice filed criminal charges against Radaza, the Gaisanos, and the other bank executives on August 20, 2014 for allegedly creating fictitious loans resulting in the bank’s closure in 2009.

RBSI declared a bank holiday in 2009 and was placed under Philippine Deposit Insurance Corporation’s receivership pursuant to Section 30 of Republic Act No. 7653 otherwise known as the New Central Bank Act.— (FREEMAN)