Friday, September 16, 2005 (Philippines)

Priscilla Abines (inset) and James Arnold Abines will be charged before the Visayas Ombudsman’s Office for depositing more than P10 million with their own rural bank, an unauthorized bank. Later, the bank collapsed, and with the bankruptcy, Santander’s P10 million vanished. (Sun.star file) Santander “lost” more than P10 million that the Abines family allegedly deposited in an unauthorized bank when they were still in power, defying a ruling from the Central Bank of the Philippines. The amount was placed in the Rural Bank of Santander Inc., which is not an authorized government depository, and is now closed after it declared bankruptcy years ago. The Abineses owned the rural bank. The Provincial Attorney’s Office will file complaints before the anti-graft office against former mayor Priscilla Abines and her successor, her son James Arnold. [full story]