Former state-owned bank branch head found guilty of graft

The Sandiganbayan has sentenced a former branch head of the state-owned Philippine Postal Savings Bank, Inc. (PPSBI) with up to eight years of imprisonment for allegedly giving unwarranted benefits and preference to clients.

In a 25-page decision promulgated on January 20, the Second Division of the anti-graft court found former PPSBI branch head Rosemarie Preston Villamora guilty beyond reasonable doubt of violation of the Anti-Graft and Corrupt Practices Act, as amended.

The court sentenced Villamora to a minimum of six years and one month of imprisonment to up to eight years of imprisonment.

She is also perpetually disqualified from holding public office.

“As civil liability, accused is ordered to indemnify Philippine PPSBI (now known as Overseas Filipino Bank, Inc.) the amount of P39,050,000 with interest at the rate of 6% per annum from the date of the finality of the decision,” it said.

The case stemmed from the supposed unwarranted benefit given by Villamora to two clients by granting them excessive interest rates of 24% to 30% when the regular interest rate then was at 1.75% to 2%.

In the decision, the Sandiganbayan pointed out that Villamora had signed a notarized sworn statement where she admitted to granting the interest rates.

However, Villamora said she did not read the statement as it was very long. She further said that she was not personally present when it was notarized.

The court said it was not convinced and agreed with the prosecution that she could not have been easily influenced or pressured given her background, vast experience, and extensive knowledge and skills.

“In addition, considering that the Sworn Statement is a notarized document, it is presumed valid, regular, and genuine. It carries evidentiary weight with respect to its due execution,” it said.

“As such, it need not be proven authentic before it is admitted into evidence. On its face, it is entitled to full faith and credit, and is deemed to be in full force and effect,” it added.

Meanwhile, the Sandiganbayan said that it is undisputed that the government suffered damages due to Villamora’s granting of unwarranted benefits in the amount of P39 million. —KG, GMA Integrated News