MANILA, Philippines - A top official of a government bank is in hot water before the Sandiganbayan for allegedly extorting money from one of the bank's clients in 2001 in exchange for the approval of a loan.
Facing legal troubles before the anti-graft court is Oscar A. Ilagan Jr, vice president for operations of the Philippine Postal Savings Bank Inc., who allegedly demanded P500,000 from one Claro Reyes.
Reyes, who was applying for a P5 million from the government bank, is president of Hillsdale Academy Inc., a private school located in Pleasant Hills Subdivision, Quirino Highway, San Jose del Monte, Bulacan.
Graft investigation and prosecution Officer I Myra P. Sarmiento-Borromeo said Ilagan, with the help of an accomplice identified as Edgardo G. Monton, a private individual, received P210,000 from Reyes on April 10, 2001.
Ilagan reportedly promised facilitation of approval and early release of the loan.
The Office of the Ombudsman noted that Ilagans functions placed him in a position to examine loan applications, making it impossible for the defendant to deny that the offense was committed in relation to his office.
Recommendations for indictment of the two accused were submitted on June 26, 2007 by the Ombudsmans Investigation and Adjudication Board-B headed by director Mary Susan S. Guillermo.
After a thorough review, Ombudsman Ma. Merceditas N. Gutierrez approved the filing of graft charges against the defendants on July 21, 2008.
Prosecutors recommended that bail bond for the two accused be set at P30,000 each. - GMANews.TV