Security Bank asks Sandigan to scrap govt appeal on Marcos deposits

Security Bank and Trust Co. on Wednesday asked the Sandiganbayan's Fifth Division to scrap the Presidential Commission on Good Government's appeal on the court’s resolution last May 29 that dismissed the government's claim to over P220 million in Marcos deposits. In a 13-page opposition dated, July 20, Security Bank said the Presidential Commission on Good Government can no longer question the validity of its documentary evidence after the government’s own counsel, the late Atty. Tomas Evangelista, admitted the ‘genuineness and existence of the said papers consisting of the in-house audit reports of Marcos deposits. “The fact of the matter is that plaintiff had no choice but admit to the Honorable Court that the in-house audit report presented by defendant was obtained from the custodian of the PCGG. The documentary evidence were in the custody and possession of PCGG since 1986," the lender said. Security Bank said the audit report showed that the P220 million being claimed by the government technically do not exist, as they were transacted using forged remittances from the bank's United States offices. “(I)n the normal course of its business, the Bank unknowingly acted on the spurious inward telex payment orders, using its own funds to credit the fraudulently indicated beneficiaries, resulting to a loss because there were no funds actually received by the bank," the bank’s lawyers explained. On the other hand, PCGG claims that the bank’s obligation to pay is clear after its own official, former senior vice president Arcatomy Guarin, admitted in 1987 that there were P981.41 million Marcos deposits in various accounts maintained by the family with the bank. This figure was later adjusted to P995 million after it was discovered that some dollar deposits were computed in pesos. Between January 13, 1988 to Jan 2, 1992, Security Bank paid up over P775 million but ceased further payments claiming the P220 million balance were ‘fake deposit remittances’ that never actually reached the bank's coffers. A special division of five Sandiganbayan justices voted 3-2 to dismiss the government claim as the majority upheld the bank’s arguments noting that there was insufficient evidence to sustain the cause of action in the complaint. - GMANews.TV