The National Bureau of Investigation (NBI) captured last Wednesday a former bank manager for allegedly violating the Anti-Money Laundering Act of 2002 by diverting P15 million from the bank account of the Bureau of Customs (BOC) to another account.
Head Agent Arnel Dalumpines, of the NBI-Special Task Force (STF), said they arrested Eric Allagadan based on a warrant of arrest issued by Pasig City Regional Trial Court (PCRTC) Branch 160 Judge Amelia Fabros.
Dalumpines said their office was furnished with a copy of the warrant issued by the Pasig court last Oct. 30. He then dispatched a team to locate Allagadan.
Last Jan. 9, the NBI went to his house located in Tanza, Navotas and served the arrest warrant. He was then brought to the NBI head office for booking, fingerprinting and medical examination, before he was escorted to the bureau’s detention facility.
If Allagadan is found guilty of violating the anti-money laundering law (Republic Act of 9160), he faces up to four years in prison and a fine ranging from P100,000 to P500,000.
It appeared that Allagadan was the former branch manager of a commercial bank in Annapolis, Greenhills, San Juan. In March 2002, he reportedly allowed a certain Mario Misa to open a bank account even if he had incomplete documents.
He also allegedly allowed a P15,920,460 manager’s check, dated March 15, 2002 and payable to the BOC, to be deposited in Misa’s account on March 18, 2002.
The bank, whose name was withheld upon request, filed an administrative case against him for reportedly violating bank policies, procedures and the code of conduct.
“There is no doubt Allagadan committed fraud and willful breach of the trust and confidence reposed upon him by the bank when he accepted the questioned second endorsed check for deposit to a personal account and thereafter diverted the proceeds thereof by effecting fund transfer transactions to several other accounts, and allowed himself to be used by, and connived with, another person or group of persons in order to perpetrate the fraudulent deed. True, instead of upholding the interest of the bank, it was he who facilitated the fraud,” the NBI quoted the bank as stating.
As a consequence, he was terminated from the bank and criminal charges filed against him.