6 ex-Quedancor officials convicted of graft over P1.92-million loan
MANILA, Philippines – The Sandiganbayan convicted of graft 6 former officials of the Quedan and Rural Credit Guarantee Corporation (Quedancor) over an anomalous transaction involving almost P2 million in 2006.
The anti-graft court's 7th Division sentenced the accused former officials of the government-owned and controlled corporation to imprisonment of 6 to 10 years each.
They were also ordered to pay P1.927 million with legal interest of 6% per year.
Those convicted include:
- Alexander Butic, former senior vice president for loans management
- Joel Gagelonia, former operations officer and district supervisor
- Rhona Añover, former regional unit head of the credit assessment group
- Rudolph Zoleta, former regional unit head of the collection and remedial group
- Carino Cañezal, former operations officer
- Analyn Hobayan, accountant
Also found guilty were Luisito and Femy Vinuya, the couple who received the loan from Quedancor.
Quedancor was a former subsidiary corporation of the National Food Authority. It was mandated by law to provide provide funding assistance to small agriculture and fisheries entrepreneurs across the Philippines.
The convicted officials were accused of acting with evident bad faith or gross inexcusable negligence for approving the loan to the Vinuya couple despite their ineligibility.
According to government prosecutors, the loan application was backed by insufficient collaterals, so the state was on the losing end. In addition, the loan was allegedly for calamansi production, but it was later found that the Vinuyas had no such business.
"The instant case is a criminal action...where the prosecution's sole focus is to prove beyond reasonable doubt, the complicity of all of herein accused in applying, preparing, processing, and not reviewing and verifying the Vinuya account before approving the P2-million loan," the Sandiganbayan said.
This is not the only anomaly under Quedancor. In 2016, the anti-graft court found a Quedancor supervisor in Laguna liable for the illegal disbursement of P55.64 million under a swine program.
In 2017, President Rodrigo Duterte ordered the abolition of Quedancor since it had been "operating at a loss" and had overlapping functions with other government firms. – Rappler.com