A former employee of a manpower service provider assigned at the Philippine Deposit Insurance Corporation (PDIC) has been arrested based on warrants issued by the Regional Trial Court Branch 61 of Bogo City, Cebu and the Metropolitan Trial Court Branch 66 of Makati City.

Bernard A. Sicorsicon, a former employee of the LBP Service Corporation, was arrested on February 13, 2015 in Pasay City by members of the Villamor Police Community Precinct, namely PSI Vicente C. Barrameda, SPO3 Allan L. Ortega, SPO1 Ronie P. Gazmen, PO2 Marlon C. Guanzon, PO1 Francis B. Dela Cruz, PO1 James P. Manuel and PO1 Victor M. Olivas, with the assistance of Brgy. 185 Force Multipliers led by Brgy. Capt. Ruel Ramos. Sicorsicon is now detained at the Pasay City Police Station.

According to several complaints filed by various borrowers against Bernard Sicorsicon, it appears that Sicorsicon led them to believe that he was authorized by PDIC to work out discounts and compromise agreements on their loans to various closed banks. In the process, the borrowers were lured to pay to him directly the monthly amortizations for the purported settlement of their respective loans. Sicorsicon never remitted any of the payments of these borrowers to the closed banks.

Sicorsicon's assignment to the PDIC was terminated effective May 22, 2013.

The borrowers filed estafa cases against Sicorsicon. PDIC, on the other hand, filed various cases for usurpation of authority or official functions. Acting in one of the estafa cases, the Office of the City Prosecutor of Bogo City in Cebu found probable cause that Sicorsicon committed estafa under Article 315 (2) (a) of the Revised Penal Code. Meantime, in one of the cases for usurpation, the Office of the City Prosecutor of Makati City recommended that Sicorsicon be indicted for the said crime under Article 177 of the Revised Penal Code. All the other estafa and usurpation cases are submitted for resolution before the different prosecutors' offices of the Department of Justice.

The PDIC said that Sicorsicon's arrest is a welcome development in line with the Corporation's efforts to bring to justice parties that victimize the depositing public, circumvent the deposit insurance scheme or engage in unlawful acts that may put the Deposit Insurance Fund (DIF) at risk.

The state deposit insurer also reiterated its warning to borrowers and clients of closed banks to transact only with authorized PDIC personnel stationed at the closed banks' headquarters during takeover operations and at the PDIC Home Office in Makati City. According to PDIC, clients of closed banks should pay only to the PDIC cashiers at the PDIC office in Makati City and should always ask for an official receipt. Payments may also be made by depositing directly to the account of the closed bank with the Philippine National Bank (PNB) as indicated in PDIC advisories.

The PDIC requests the public to report any incidence of wrongdoings and illegal transactions to the Public Assistance Helpdesk located at the 4/F SSS Bldg., 6782 Ayala Ave. cor. Rufino St., Makati City, or call the PDIC Public Assistance hotlines, (02) 841-4630 to 31. Depositors outside Metro Manila may call toll free at 1-800-1-888-PDIC or 1-800-1-888-7342 to report complaints and irregularities. Reports or complaints may also be sent via e-mail to pad@pdic.gov.ph.

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