DBP lawyer’s suicide a big puzzle for President Aquino

President Benigno Aquino III said on Wednesday he was “curious like everybody else” on why a lawyer for the Development Bank of the Philippines (DBP) took his life just as its officials were in the midst of looking into alleged questionable transactions during the Arroyo administration.

Benjamin Pinpin, 43, DBP’s assistant chief legal counsel, was found dead inside a hotel room in Las Piñas Tuesday. Police ruled the death as suicide.

“I understand that the guy who committed suicide was one of the lead witnesses who actually unearthed this or who… was kind of vital (to the investigation),” President Aquino told reporters, adding: “I am curious, like everybody else, why he had taken his life.”

The President condoled with the family of Pinpin and promised to find out what happened.

Black ribbons

Many employees of DBP reported for work on Wednesday wearing black shirts or sporting black ribbons to mourn Pinpin’s death. Some of Pinpin’s colleagues from the legal department also wore black armbands.

President Aquino said he was already briefed by Finance Secretary Cesar Purisima on the incident and also got a “backgrounder” on allegations of “behest loans or questionable transactions (that) were done previously.”

Mr. Aquino said he was waiting for Purisima to submit a report to him on the investigation being done at the DBP so as “to further clarify what the process is, etc., in unearthing what has happened in DBP in the previous boards.”

On allegations that the current DBP board had launched a witchhunt in the bank and had issued show cause orders to all officials there, including Pinpin, the President said he would ask Purisima to “review whether or not (the board) were overzealous.”

Still, the President stressed the need to uncover questionable transactions in the bank.

“You need also to know everything as soon as possible to prevent any damage or further damage from happening.”

President Aquino made it clear that the government was not after the persecution of any one in the rank and file but to find out “what really happened there, what was the damage done in the institution.”

He appealed to the rank and file to cooperate with the current board to ensure the bank was in a good position, saying that the employees themselves would be the ones affected and might even lose their jobs.

But many DBP employees have not been happy with the way the investigation was being handled and were concerned that this was disrupting the bank, sources said.

As paranoia gripped employees, DBP president and chief executive officer Francisco del Rosario gave the assurance that their rights would be protected.

“I want you to know that as your CEO, I assure you that I believe in due process and protection of people’s rights,” Del Rosario said in a note to be circulated to all DBP employees.

No foul play

He added that DBP would be ready to extend “all the necessary assistance” to the Pinpin family.

Pinpin was found dead Tuesday inside bathroom of a Las Piñas budget hotel with a nylon cord tied around his neck.

Authorities have ruled out foul play.

Police said the victim’s family confirmed that the letters were in the lawyer’s own handwriting.

Pinpin was survived by wife Amalia and two children, 14-year-old daughter Audrey and 12-year-old son Colin.

He obtained his law degree from Arellano Law Foundation and finished BS Economics from the University of the Philippines. With a report from Tina G. Santos