Romblon rural bank ex-chair convicted for faking deposits

MANILA -- Angeles R. Robis, former Chairman of the Board of Directors and President of the closed Rural Bank of Cajidiocan (Romblon), Inc. (RBCI), was found guilty beyond reasonable doubt on three counts of Violation of Section 26 of Republic Act No. 7353 (The Rural Banks Act of 1992) in a decision dated April 19, 2018 promulgated in open court on April 23, 2018.

The Honorable Rosalyn D. Mislos-Loja, presiding Judge of the Regional Trial Court of Manila, Branch 41, sentenced Robis to suffer imprisonment in the maximum term of 10 years and to pay a fine in the maximum amount of PHP10,000.

In 2008, the Bangko Sentral ng Pilipinas (BSP) instituted a criminal complaint against Robis before the Department of Justice for submitting to the BSP three verified quarterly Consolidated Statements of Condition (CSOC) for the year 2006 in the aggregate amounts of PHP55,840,972.70 as of June 30, 2006, PHP56,003,135.34 as of September 30, 2006, and PHP56,899,511.78 as of December 31, 2006, which reflected non-existent deposits with other banks.

During trial, it was proven that the non-existent deposits were booked in “Due from Other Banks -- Manila-based Banks” account which represented accumulated funds received and/or collected by Anviro Financing Corporation (Anviro).

Anviro was another company owned and controlled by Robis and his family. The funds represented cash remittances, service fees, and collections of loan payments from teacher-borrowers of RBCI, all of which were not remitted in full, or at all, by Anviro to RBCI, but were instead booked under said account.

As RBCI was not fully reimbursed of the funds that it disbursed to the beneficiaries or recipients of cash remittances; and loan proceeds it earlier released to its teacher-borrowers, the deposit funds of the bank were eventually depleted causing its inability to service the withdrawals of its depositors. Consequently, on February 8, 2007, the Monetary Board ordered the closure of RBCI and placed it under receivership of the Philippine Deposit Insurance Corporation. (BSP/PR)