THE Regional Trial Court of Isabela has convicted the former director/president and other officers of the closed Rural Bank of Reina Mercedes (Isabela) Inc. (RB Reina Mercedes) for violating the New Central Bank Act. In a statement, the Bangko Sentral ng Pilipinas (BSP) said the criminal cases that were filed accused the former director/president, general
THE Regional Trial Court of Isabela has convicted the former director/president and other officers of the closed Rural Bank of Reina Mercedes Inc. for violating the New Central Bank Act.
Accordingly, the court sentenced the rural bank’s president, the manager/cashier and the cashier to imprisonment of four years to six years, while the general manager received a prison sentence of three years. In January, the BSP Regional Trial Court of Burauen, Leyte convicted a former officer of the now-closed Rural Bank of Burauen Inc. for the same violation.
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