SC orders filing of charges vs former BSP exec

Asia's Tech News Daily

THE Supreme Court has ordered the filing of criminal charges against a former officer of the Bangko Sentral ng Pilipinas’ (BSP) Supervision and Examination Sector (SES) for obtaining a loan with the Rural Bank of Kiamba, Sarangani, Inc. (RBKSI) in 2006.

In an 18-page decision penned by Associate Justice Samuel Gaerlan, the Court’s first division granted the petition filed by the BSP to reverse and set aside the Feb. 9, 2011 resolution and the July 28, 2011 order of the Office of the Ombudsman that absolved Jamorabo of criminal and administrative liability for violation of Section 27(d) in relation to Section 36 of Republic Act 7653 (The New Central Bank Act).

The high tribunal ordered the Ombudsman to “file before the proper court the necessary information for violation of Section 27(d) in relation to Section 36 of Republic Act 7653, against [Jamorabo.]”

The Supreme Court also directed the anti-graft body “to initiate administrative proceedings against…Jamorabo in accordance with [its] decision.”

Records revealed that during the RBKSI examination, specifically on July 17, 2006, Jamorabo took out an unsecured loan in the amount of P200,000 with RBKSI, using his wife’s name. He promised RBKSI’s president Cornelio Falgui, and manager William Nero, that he would settle the loan prior to the next BSP general examination of RBKSI, which is conducted every two-year interval, so that the loan would no longer be in its books.

The loan is undeniably Jamorabo’s but made it appear that the principal borrower was his wife, Marites.

The Ombudsman ruled that a violation of RA 7653, Section 27(d) and BSP Office Order 423, series of2002 does not entail criminal liability.

Hence Jamorabo can only be held administratively liable. However, since Jamorabo had retired from government service on Dec. 31, 2008, before the complaint was filed, he cannot be sanctioned anymore.

The BSP sought reconsideration but the Ombudsman rendered the assailed July 28, 2011 order affirming the dismissal of the complaint, prompting them to elevate the case to the high court.

In granting BSP’s petition, the high court held that Jamorabo’s affidavit is completely silent on whether he disclosed the loan to the BSP.

“His complete silence on the matter betrays his awareness of the illegality of the transaction he entered into with RBKSI,” the court said in its

June 16, 2021 ruling, which was released to the media just recently.

“Had he disclosed the loan in any manner to his superiors, he could have very easily said so in his affidavit; but he did not, since he knew full well that the transaction was absolutely prohibited under the then-prevailing law.”

“Taken together, the timing and the circumstances surrounding the loan transaction indicate that Jamorabo’s position as examiner-in-charge of RBKSI unduly influenced the speedy facilitation thereof, in violation of the arm’s-length principle.”

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