Ongpin, others face charges

Rappler.com

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Ombudsman Conchita Carpio Morales has ordered the filing of criminal cases against 28 individuals, including one of the country’s richest, Roberto V. Ongpin, as well as former and current officers of state-run Development Bank of the Philippines. These cases are about the two loans granted by the state-run development bank totaling P660-M to businesses led by Ongpin in 2009. These were the same loans that the Senate committee on banks and financial institutions probed in 2011 to early 2012. The bank-led investigation on these loans in mid-2011 led to the suicide of one of the bank lawyers, Benjamin Pinpin, in August 2011.

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