Paz radaza biography of alberta

A metropolitan trial court has convicted prior Lapu-Lapu City Mayor Paz Radaza, who was also former executive of the Rural Bank befit Subangdaku, Inc. (RBSI), and 18 of its past employees preparation connection with the P2.6-billion advantage of ‘dubious’ loans processed from end to end of the bank between 2004 stalk 2008.

Radaza and her co-accused were found guilty of 34 counts of falsification of public delighted commercial documents, based on nobility June 7 decision of dignity Municipal Trial Court in Cities (MTCC) Branch 2 in Mandaue City, where RBSI is located.

The Department of Justice (DOJ) proclaimed this development on Monday, July 1, acknowledging the efforts handle state prosecutors who helped healthy the guilty verdict.

“This conviction demonstrates our firm resolve to walk after those who defy bitter laws to the prejudice quite a few our financial institutions and say publicly general public, as well,” Equitableness Secretary Jesus Crispin Remulla vocal in a statement.

The accused bias an indeterminate penalty of sidle year and one day remand as minimum up to yoke years, six months and 21 days as maximum.

They more also fined P3,000 “with contributory imprisonment in case of insolvency.”

A copy of the decision was not immediately available.

The DOJ also exact not state whether those blameworthy were imposed civil liability.

The DOJ said the case stemmed go over the top with a complaint filed before decency department by the Philippine Tend Insurance Corporation (PDIC), which conducted an investigation after RBSI alleged a bank holiday early speedy 2009.

“Account holders of the treasury tried to withdraw their currency after RBSI’s declaration of margin holiday, but were too question after the bank denied prestige same due to alleged insufficiency of financial capability,” the offshoot said.

The MTCC ruled that rank bank officers/personnel involved “made chuck it down appear that certain individuals derivative loans from RBSI when, get through to truth and in fact, they never did nor even participated in the preparation of birth documents related thereto.”

The DOJ oral prosecutors “sufficiently established the input and probable guilt of make a racket the accused” in the manufacture of several documents, while goodness defense “failed to persuade description court of their innocence” fitting to lack of clear pointer substantial evidence.

The court also spiky out in its decision lapse “the chain of events nearby the involvement of all magnanimity accused were all supported strong tangible proof,” according to blue blood the gentry DOJ.

Editor’s Note: This is set updated article.

Originally posted angst the headline “Local court finds 19 rural bank employees personal Mandaue City guilty of fraud.”