MANILA, Philippines — A Manila court convicted two ranking officials of the shuttered Orient Development Bank Corp. for seven counts of fraud involving P159 million linked to the closure of the financial institution in 1998, the country’s bank deposit insurer said.
In a statement on Thursday, the Philippine Deposit Insurance Corp. said Branch 42 of Manila’s Regional Trial Court issued its decision in November 2020.
For the commission of seven counts of estafa through falsification of commercial documents, Presiding Judge Dinnah Aguila-Topacio sentenced the bank’s former president and owner Jose Go, and former senior Vice President Aida dela Rosa to imprisonment for a minimum of f…
Keep on reading: Owner, official of shuttered Orient Bank convicted of P159-M fraud