The Philippine Deposit Insurance Corporation (PDIC) filed charges of qualified theft against the former manager of a closed bank in Tarlac. The case was filed with the City Prosecutor of Tarlac City on October 4, 2013.

Charged for violation of Article 310 of the Revised Penal Code was Ana Marie de Leon, former manager of the closed First Provincial Bank, Inc. located at Phase 2, Sta. Monica Heights Subdivision, San Rafael, Tarlac. The PDIC complaint alleged that de Leon withdrew an aggregate amount of P6.60 million without authorization from various depositors. In its complaint, PDIC also alleged that de Leon unlawfully took the proceeds of the withdrawal transactions.

PDIC’s complaint further alleged that the unauthorized withdrawals were discovered by the depositors only when they filed their deposit insurance claims with the PDIC after the bank’s closure. They learned that the balances reflected in their passbooks were substantially lower than what were recorded in the subsidiary ledgers of their accounts in the closed bank. The depositors denied withdrawing from their accounts. Investigation disclosed that de Leon signed and approved the withdrawal slips.

In their Joint Affidavit dated October 9, 2012, the former cashiers of the First Provincial Bank attested that de Leon personally posted and transacted the withdrawals from the depositors’ accounts. According to them, as the manager of the bank, de Leon had the password control of the savings system for tellers and the cashier.

The PDIC has requested the City Prosecutor of Tarlac City for the conduct of a preliminary investigation on the case and the filing of qualified theft charges against de Leon.

First Provincial Bank was ordered closed and placed under PDIC receivership pursuant to Monetary Board No. 592 dated April 19, 2012.

The Corporation continues to pursue legal actions against bank officials and personnel who have been found to have engaged in unsafe and unsound banking practices, which pose grave threats to the stability of the country’s banking system. As co-regulator of banks, deposit insurer and receiver/liquidator of closed banks, the PDIC is authorized to conduct investigations and file necessary cases against erring bank officials and unscrupulous individuals. The pursuit for justice against erring bank owners, officers and employees is an important undertaking of PDIC to protect the Deposit Insurance Fund, PDIC’s funding source for payment of insured deposits, as well as to maintain financial stability.

* * * *