PODCAST: High stakes for Lorenzo Tan, RCBC

MANILA, Philippines – On Tuesday, April 12, the Senate conducts its 5th hearing on the Bangladesh Bank heist, even as Lorenzo Tan, the president-on-leave of Rizal Commercial Banking Corporation (RCBC), filed civil and criminal charges against his sacked employee, Maia Santos-Deguito.

Deguito, who is being accused of being the brains behind the $81-million caper, has also been charged by Tan of false testimony against him. Both sides are pointing fingers at each other.

Deguito’s lawyer Ferdinand Topacio sits down with Chay Hofileña, head of Rappler’s investigative team, to talk about the pressures faced by his client as RCBC branch manager, as well as the accountability of Tan, the bank’s president, who has taken a leave. They chat before the Senate blue ribbon committee hearing.

Topacio says Deguito followed the bank’s protocol in handling huge sums like the $81 million that entered the RCBC system. 

Deguito, according to her lawyer, requested for clearance from RCBC’s head office “and she was sent an email stating very clearly this is a valid remittance.”

He added, “If you are a branch manager and the head office says it is a valid remittance it would be very safe for you to assume that all the protocols as to the origin, legality of those funds had been complied with by head office.”

During the interview, Topacio defends his client and accuses Tan of negligence “at the very least”, as president of RCBC.

Listen in on the conversation and tell us what you think. – Rappler.com