A FORMER rural bank officer was sentenced to a year of imprisonment for creating fake loan accounts in a financial statement submitted to the Bangko Sentral ng Pilipinas (BSP) for which the executive pleaded guilty.
A FORMER rural bank onancial statement submitted to the Bangko Sentral ng Pilipinas for which the executive pleaded guilty.
Based on charges filed by the central bank, the court convicted Rosele R. Solis for creating several dummy loan accounts in the bank’s Financial Reporting Package-Balance Sheet as of Sept. 30, 2012. Under the law, anyone who creates false or misleading statements that are true to the BSP may be fined P100,000 to P200,000 or imprisoned for five years at most, at the court’s discretion.
The revocation was signed by the Monetary Board in Resolution No. 735 dated May 26 for violating RA 8367 or the Revised Non-Stock Savings and Loan Association Act of 1997 as well as BSP rules and regulations.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
300M pieces of P1,000 polymer banknotes to be released early 2023Some 300 million pieces of the P1,000 polymer banknotes are expected to be released to the public early in 2023, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said Tuesday.
Read more »
BSP signals more tightening in 2023 - BusinessWorld OnlineTHE BANGKO SENTRAL ng Pilipinas (BSP) signaled further tightening in 2023, as it aims to bring inflation to near 3% by the third quarter.
Read more »
BSP sticks to tools as inflation seen declining - BusinessMirrorTHE Bangko Sentral ng Pilipinas (BSP) is not ruling out any rate increases in 2023 despite expectations that inflation would start declining in January next year. BSP Governor Felipe M. Medalla told reporters last Tuesday that the Monetary Board may not pause on its rate increases but would not resort to any “extreme forecasts” in
Read more »
BSP encourages public to send electronic aguinaldos - BusinessMirrorWITH less than a week until Christmas, the Bangko Sentral ng Pilipinas (BSP) is encouraging Filipinos to bring the yuletide cheer to loved ones through electronic aguinaldos (e-aguinaldos). BSP said giving e-aguinaldos support its broader thrust to foster the wider adoption of digital payments, which promotes financial inclusion and the efficient flow of funds in
Read more »
At least 25 bps rate hike likely in next 2 policy meetings, BSP Gov. Medalla saysThe Monetary Board of the Bangko Sentral ng Pilipinas (BSP) is set to continue hiking key policy rates by at least 25 basis points in its first two meetings, Governor Felipe Medalla said Tuesday.
Read more »
Medalla: Single-digit RRR still possible by July 2023Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said the reserve requirement ratio (RRR) of big banks could still be cut down to single-digit by the end of his term in July, should inflation be expected to fall within the target range by then.
Read more »