Veteran Lawyer Explain the Effects of PCGG's Sequestered Assets Deposited at LDB


Veteran lawyer and a well-known supporter of Pres. Rody Duterte on social media, Atty. Trixie Cruz-Angeles explained the effects of the expose revealed by an NBI officer belonging to the Anti-Fraud Division who stated that some sequestered assets of the PCGG were deposited in the Luzon Development Bank (LDB).


According to Executive Officer Minerva Retanal of the Anti-Fraud Division of the NBI, former PCGG Chairman Andy Bautista allegedly transferred the bank accounts of government sequestered companies to LDP during his time as head of the agency.

Atty. Trixie Cruz-Angeles explained that the LDP benefited from the alleged transfer of government sequestered assets to the bank because they can use the money for their lending services, it's one of the best way for banks to earn money.


But, Atty. Angeles also cited a provision of the Anti-Graft and Corruption Practices, and one of the ways on how to commit graft is:

(e) Causing any undue injury to any party, including the Government, or giving any private party any unwarranted benefits, advantage or preference in the discharge of his official administrative or judicial functions through manifest partiality, evident bad faith or gross inexcusable negligence. This provision shall apply to officers and employees of offices or government corporations charged with the grant of licenses or permits or other concessions."

The veteran lawyer noted that the above-mentioned violation could become a ground for an impeachment proceedings against Andy Bautista, because he allegedly gave unwarranted benefits to Luzon Development Bank. 

There is also a possibility that right after Andy Bautista's term as Comelec Chairman, a case involving the alleged violation of anti-graft law could be filed against Bautista.

Here's the Complete Statement of Atty. Trixie Cruz-Angeles:

"Ayon sa NBI nilipat o ipinalipat ni Comm. Andres Bautista ang mga bank accounts ng mga government sequestered companies sa Luzon Development Bank. At the time, sya ang head ng PCGG. Bilang pinuno, administrator sya ng mga sequestered assets o sya ang responsable para sa tamang pangangasiwa nito.

Ano ang epekto ng findings na ito?

Nag benefit dito ang LDB dahil dumami ang perang magagamit nilang pautang. Ganyan po kasi ang paraan kung paano kumikita ang banko.

Ngayon, ayon sa Anti Graft and Corruption Practices Act, isa sa paraan ng pag commit ng graft ay:

"(e) Causing any undue injury to any party, including the Government, or giving any private party any unwarranted benefits, advantage or preference in the discharge of his official administrative or judicial functions through manifest partiality, evident bad faith or gross inexcusable negligence. This provision shall apply to officers and employees of offices or government corporations charged with the grant of licenses or permits or other concessions."

Posible magamit ito bilang isang ground sa impeachment ni Comm Bautista dahil sa pagbigay nya ng unwarranted benefits sa Luzon Development Bank.

O kaya, matapos ang termino nya bilang COMELEC chairman, makasuhan sya ng violation ng anti graft law."


Source: Atty. Trixie Cruz-Angeles FB Page

Veteran Lawyer Explain the Effects of PCGG's Sequestered Assets Deposited at LDB Veteran Lawyer Explain the Effects of PCGG's Sequestered Assets Deposited at LDB Reviewed by PhilNews XYZ on 8/24/2017 Rating: 5

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