Govt not giving up on P220M Marcos deposits in Security Bank

The government will not be giving up its claim on the P220 million balance of Marcos deposits at the Security Bank and Trust Co. Government lawyers on Friday asked the Sandiganbayan Fifth Division to reverse its earlier resolution junking the government’s claim on the deposits. PCGG special counsel Lester Alvarado Flores, Assistant solicitor general Eric O. Panga and state solicitor Maricar S.A. Prudon-Sison said the State is entitled to the money because it has proven that the deposits were separate and distinct from the accounts identified by the bank as the recipients of fake telex remittances. In its earlier ruling, the graft court upheld Security Bank's argument that the Marcos deposits in its coffers only amounted to P775 million, which has already been paid to the government. The bank said the P220 million under contention were contained in bogus telex transactions wherein no cash was actually deposited. On the other hand, PCGG is banking on the admission made by former SBTC senior vice president Arcatomy Guarin in 1987 that the actual amount was P981.41 million. Government lawyers said the alleged spurious telexes had nothing to do with the State’s claim. The fake telexes were under five accounts - Account Nos. MK-FCD-039-82, 040-82 and 041-82; MK-0600-0267-23; and S/A 0100-220-77 none of which is included in the 25 separate peso, dollar and treasury bill accounts covered by the government claim. “A detailed review of the accounts involved reveals that there is in fact no relation nor connection between the accounts that comprise the total obligation," the PCGG-OSG said. “It is worthy to note that defendant did not devote a single word … to refute the fact that the accounts to which the alleged spurious remittances were credited do not correspond with the accounts credited with the P981.41 million admitted obligation. Obviously there is nothing that defendant can say," the government's lawyers added. - GMANews.TV