Ombudsman Conchita Carpio-Morales in a statement resolved that thirteen past and current executives of the Development Bank of the Philippines (DBP) are guilty for committing grave misconduct and conduct that is detrimental to the best interest of the bank when they got involved in the grant of two behest loan to Deltaventures Resources Inc. (DVRI) in April and November that totaled P660 million.
The penalty for the thirteen executives include the termination of eligibility, loss of retirement benefits, permanent disqualification from public office, and prohibition from taking the civil service examinations.
Morales said that the loans were granted in a haphazard and hurried process without proper regard to the borrower’s capacity to pay, which put the bank in considerable exposure.
Meanwhile, Morales dismissed charges against eight former officers in consideration of their separation from the bank prior to the complaint.
The Business Mirror reported that the Office of the Ombudsman also dismissed administrative charges against Josephine Jaurigue, Justice Lady Flores and Benilda Tejada based on lack of evidence.
