Financial scammers and fraudsters beware: veteran state prosecutor Jovencito R. Zuño has been appointed Director of the Philippine Deposit Insurance Corporation (PDIC). Zuño took his oath of office before PDIC Chairman and Finance Secretary Margarito B. Teves at the Department of Finance office recently.

Prior to joining the state deposit insurer, Zuño, who had extensive experience relative to the anti-money laundering law, was Chief State Prosecutor of the Department of Justice (DOJ). He retired from the DOJ in February capping a career that spanned 35 years, 13 years of which were spent as chief state prosecutor.

His career highlights inlcude the successful prosecution of former President Estrada for plunder in connection with insider trading in the Belle Corp. stocks in 2007 and high-profile convictions of criminal cases against former Calauan Mayor Antonio Sanchez, Zamboanga del Norte Rep. Romeo Jalosjos and Hubert Webb. Until his retirement, he was overseeing the double murder case of publicist Salvador 'Bubby' Dacer and Emmanuel Corbito, and the Maguindanao massacre as well as the proposed bill increasing the salary of prosecutors.

PDIC President Jose C. Nograles welcomed the appointment of the Corporation’s new director citing that the legal and litigation expertise of Zuño will assist in PDIC’s prosecution of bank owners, officers and personnel engaged in anomalies, irregularities and fictitious transactions in banks; as well as for the Corporation’s new legislative initiatives to further strngthen the regulatory framework of the banking system.