Aug 012013
The Sandiganbayan has issued arrest warrants against former Development Bank of the Philippines (DBP) officials and other private individuals who were implicated in the alleged P660-million behest loans extended to a Roberto Ongpin-led corporation in 2009.

Among those ordered arrested was former Labor Secretary Patricia Sto. Tomas, who is also the erstwhile chairperson of the DBP.

“The court found that probable cause exists for the issuance of warrants of arrest against all the accused-movants,” the Office of the Ombudsman quoted the anti-graft court as saying in a statement Thursday.

Aside from Sto. Tomas, the other ordered arrested were:

  • Alexander Magno
  • Ramon Durano IV
  • Floro Oliveros
  • Renato Velasco
  • Benedicto Ernesto Bitonio Jr.
  • Arturo Baliton
  • Perla Soleta
  • Warred De Guzman
  • Teresita Tolentino
  • Marissa Cayetano
  • Nelson Macatlang
  • Rodolfo Cerezo

The resolution also ordered the arrest of Deltaventures Resources, Inc. (DVRI) president Josephine Manalo and Goldenmedia Corporation treasurer Ma. Lourdes Torres.

Ongpin is the general manager of DVRI.

Since Ongpin and other ex-DBP officials have posted bail, the Sandiganbayan have not issued arrest warrants against them, the Ombudsman statement read.

Those who posted bail were former DBP president and vice-chairman Reynaldo David, and ex-officers Franklin Velarde, Joseph Donato Pangilinan, Miguel Romero, Edgardo Garcia, Armando Samia, Rolando Geronimo, Jesus Guevarra II, and Cresencia Bundoc.

Last year, the Ombudsman filed criminal charges against Ongpin and former DBP officials in connection to the P660 million loan extended by the state-run bank to Ongpin’s DVRI

DBP extended two loan facilities in the amounts of P150 million and P510 million in April 2009 and November 2009, respectively, to DVRI, even though the company was undercapitalized.

DVRI in November 2009 used the money to buy 50 million Philex Mining Corp. shares from the state-run bank at P12.75 per share. A month later, however, DVRI sold the shares at the much higher price of P21 per share.

The controversial DBP loan grants have been subjected to a Senate investigation in 2011. Rouchelle Dinglasan/KBK, GMA News

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