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April 21, 2024

La Trinidad court convicts former Benguet Bank execs

The RTC said the Bankeros were guilty of criminal cases.

The RTC of La Trinidad found accused Bankeros Aurelio G. Lapniten, Miguel P. Luma-ang, Crisaldo P. Badival, Melecio K. Calubandi and Antonio P. Kito guilty beyond reasonable doubt due to the Directors, Officers, Stockholders and Related Interests (Dosri) loan released by the accused officers of Cooperative Bank of Benguet Inc. The Bankeros were sentenced to pay a fine of P80,000 per person, without subsidiary imprisonment in case of insolvency. The said crime violates the violation of Republic Act 7653 or the “New Central Bank Act”.

Meta: The BSP, following its investigation, found that the incorporators and some of the former officials of CBBFI are also the former and current authorities handling CBB.