Aquino wants deeper probe into DBP lawyer’s suicide

MANILA, Philippines—President Aquino has ordered a deeper probe into why documentation lawyer Benjamin Pinpin of the Development Bank of the Philippines killed himself amid an investigation into questionable transactions made in the bank under the previous Arroyo administration.

Pinpin was supposed to be one of the “prime” witnesses in a case that has since been filed by the bank against a businessman with close links to former First Gentleman Jose Miguel Arroyo.

President Aquino said on Tuesday he has been briefed by Finance Secretary Cesar Purisima on the case that the DBP recently filed against businessman and former trade minister Roberto Ongpin, who has been accused by the current DBP management of obtaining loans amounting to P660 million in 2009 from the DBP for his company Delta Ventures Resources Inc., even if the firm was undercapitalized.

“(Purisima) briefed me on what deals were under question, why they are under question and the process that the board undertook to unearth what actually happened,” the President told reporters after visiting a Malampaya plant in Batangas City.

Aquino said he has asked officials to look into the suicide of DBP assistant legal counsel Benjamin Pinpin, who was pressured by the current DBP leadership to incriminate himself and former DBP officials in the alleged behest loans given to Ongpin’s company.

Aquino said he wanted the circumstances leading to the suicide probed because Pinpin was described to him as “one of the initial witnesses, if not the prime witness, to what actually transpired.”

“So I would wonder, kung nagi-guilty ka na may mali na nangyari, nung pag-reveal mo niyan, di dapat eh para lumuwang ’yong loob mo, pero hindi ganoon. So may inconsistency (So I would wonder, if you feel guilty about a wrong that has been done, shouldn’t you feel better when you reveal it? But this was not the case. So there is an inconsistency). I would like to find out why there is an inconsistency,” the Chief Executive told reporters.

President Aquino said he was awaiting a more extensive report from Purisima.

Pinpin was found dead last week in a hotel in Las Piñas City and police has ruled his death a suicide.

The President earlier asked Purisima to investigate whether the DBP board had become overzealous in its investigation of DBP officials behind the alleged behest loans to Ongpin.

Last week, DBP officials filed a case against Ongpin before the Office of the Ombudsman, alleging that he and former DBP president Rey David connived in getting the loan for Delta and thus, exposing the bank to “high lending risks.”

Ongpin said in a statement that contrary to the claims of the current DBP board, Delta Ventures had over P1 billion in assets and that the DBP profited from the loan taken out by Delta, which has been settled.