The Philippine Deposit Insurance Corporation (PDIC) filed with the Department of Justice (DOJ) criminal charges against the former Chairman and Directors of the Board of the closed Rural Bank of Taysan (Batangas), Inc. for large-scale estafa, falsification of commercial documents under Article 172 of the Revised Penal Code, and for conducting business in an unsafe and unsound manner in violation of Republic Act 3591, as amended, otherwise known as the PDIC Charter. The DOJ is conducting preliminary investigation of the case.

Specifically those charged were Belen B. Gutierrez, former Chairman of the Board; her husband Nicanor T. Gutierrez, former Director; and their daughters Grace Gutierrez-Buencamino, former President and Director; and Shirley Maribel B. Gutierrez, former Director and Assistant Cashier. The complaint, docketed as XVI-INV-15J-00381, was filed before the DOJ on October 14, 2015.

The complaint alleged that the respondents conspired and took advantage of their positions to make several unauthorized withdrawals from 2012 to 2014 from Rural Bank of Taysan aggregating P3.8 million. To cover up the scheme, the respondents made it appear that several depositors made withdrawals from the bank. This was done either by forging withdrawal slips, or by printing of replica copies of certificates of deposits and having these stamped as paid.

According to the complaint, when PDIC took over the closed bank, there was a cash shortage of about P4 million, of which P3.8 million, according to the Cashier/Treasurer, were personal advances of Spouses Belen and Nicanor Gutierrez, the bank's Chairperson and Board Member, respectively.

As alleged in the complaint, the Cashier/Treasurer narrated that these unauthorized advances were not booked as receivables from Spouses Gutierrez upon the instructions of the Bank President and Director, Ms. Grace Gutierrez-Buencamino, who happens to be the daughter of Spouses Gutierrez. The Cashier/Treasurer said that the advances were covered up through recording of unauthorized withdrawals against several deposit accounts.

In the complaint, PDIC said that when the bank was taken over, the respondents submitted a promissory note to acknowledge their indebtedness to the bank in the amount of P3.8 million.

The complaint further showed that respondents conducted business in an unsafe and unsound manner by violating restrictions on loans granted to Directors, Officers, Stockholders and Related Interests (DOSRI). Prior to the bank's closure, the Bangko Sentral ng Pilipinas (BSP) has found that the bank violated DOSRI rules.

The PDIC remains relentless in its pursuit of legal action against erring bank owners, officers and personnel to serve justice these, protect the interests of the depositors and creditors; and send a stern warning against unscrupulous individuals who intend to take advantage of the deposit insurance system.

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