Latest Breaking News On - He latter 39s job was to monitor the transfer of ownership and that examiner presence at unitrust alone cannot equate his knowledge circumstances loans even if bsp had acquired information regarding - Page 1 : comparemela.com
MANILA-The Supreme Court (SC) has affirmed a Makati court ruling convicting a banker liable for violations of laws on restrictions of banks' exposure to directors, officers, stockholders and their related interests (DOSRI) loans. In its 21-page resolution uploaded online on March 11, the SC's Third Division denied the petition for review filed by Jose Apolinario Jr. and affirmed the Court of Appeals (CA)'s 2018 decision on the case. The CA had upheld the 2012 joint resolution of the Makati regional trial court (RTC) Branch 149 convicting Apolinario of violating the banking law and ordered him to pay a total fine of PHP300,000 involving two DOSRI loans amounting to PHP27 million granted by the Unitrust Development Bank (UDB) in 2001 and of which PHP14 million was actually released by the bank. After the loans were released and on the same day, the Bangko Sentral ng Pilipinas (BSP) Department of Thrift Banks and Non-Bank Financial Institutions informed the bank's officers