Government on lookout for officials, borrowers of defunct bank-A A +A
Sunday, March 17, 2013
MANILA -- Six people led by the president of the closed LBC Development Bank have been monitored by the Bureau of Immigration (BI) since January 21 as they may leave the country to escape syndicated estafa cases.
They are LBC president Ma. Eliza Berenguer and borrowers, Benito Ramon Araneta, Ma. Lourdes Senn, Ernesto Barrios, Charito Zambales, and Francisco Climent, according to the Philippine Deposit Insurance Corp. (PDIC), which is pursuing the P229.5-million case.
The PDIC alleged that Berenguer, from October 2006 to January 2008, directly instructed the principal officers of the bank to infuse money to deposit accounts owned by the respondent borrowers maintained with third party banks.
The bank was ordered closed on September 9, 2011. (Virgil Lopez/Sunnex)