NBI files raps vs Metrobank exec for ‘internal bank’ fraud

The NBI headquarters in Manila (File photo from the Philippine Daily Inquirer)

The National Bureau of Investigation (NBI) has filed before the Makati Prosecutor’s Office a criminal complaint against the Metropolitan Bank and Trust Company (Metrobank) executive, who was arrested last Monday for attempting to pocket P2.25-million loan payment of one of its major corporate clients.

Metrobank’s corporate management head Maria Victoria Lopez has been charged with a complaint for qualified theft, falsification and violation of the General Banking Law.

READ: P900-M theft at Metrobank ‘isolated case’, says BAP

NBI spokesman Deputy Director Ferdinand Lavin said Lopez, who receives a monthly compensation of P250,000 from the bank was arrested Monday during an entrapment operation conducted by the NBI’s Anti-Fraud Division (AFD) in Makati City.

Lopez was taken to the Makati prosecutor’s office to undergo an inquest proceeding but opted for a preliminary investigation so she can respond to the allegations against her.

AFD head Irwin Garcia said they conducted an investigation following a request from the bank.

“Afterwards, an entrapment operation was conducted together with the bank officials,” Garcia said adding that the bank officials have their own witnesses who saw how the suspect has manipulated the documents.

“As it is now, this is the subject of the investigation of the internal investigation division of the bank. We are conducting a follow-up investigation as to the other possible collaborators and co-conspirators,” said Garcia.

Though NBI officials refused to name the corporate client, a report has already identified it to be Universal Robina Corporation.

NBI Agent Norman Aguirre who is handling the case said the bank initially discovered the irregularity last June 30 when a letter request was made to have a P2.25-million manager’s check issued to a certain payee.

“That in itself is a ‘red flag’ because the bank cannot issue a manager’s check to an individual payee, which is supposed to be for corporate clients only,” Aguirre said.

The investigator said the bank also discovered Lopez also falsified transactions to make it appear the corporate client made P900 million and P850 million loans.

He said the corporate client has a P25 billion credit line with Metrobank and, being the corporate management head, Lopez can “upon her say so, the bank can issue large loans through the credit line of P25 billion.”

“The bank conducted an internal inquiry and confirmed with the client if the client has a loan with the bank or if it has throwdowns in the credit line and much to their dismay they discovered that such loans are unknown to the client,” Aguirre said.

He explained the bank every quarter of the year reprises and renegotiate with the corporate client the interest rate it has to pay for its loans.

“So, nung July 17, the date ng entrapment, the client was supposed to pay a certain interest, which amounts to P2.250 million,” he said. JPV