DBP lawyer urges Ongpin to answer raps
By Benjamin B. Pulta and Charlie V. Manalo 08/23/2011Bank lawyer Zenaida Ongkiko-Acorda said parties in the ongoing investigation of behest loans granted by the Development Bank of the Philippines (DBP) during the last administration should squarely answer the charges against them.
In a statement, Acorda said: “It is truly lamentable that the P660 million loans which were extended by DBP’s officers to the company of Mr. Ongpin ended up enriching some private individuals who wished to engage in speculative stock trading.”
“These P660 million loans could have instead been utilized to help farmers, small entrepreneurs, microenterprises, cooperatives and farmers’ associations which could have availed themselves of loans for microfinance, agricultural and livelihood projects and other projects that could have furthered the developmental goals of DBP.”
In a separate statement, the camp of businessman Roberto Ongpin said they will pursue disbarment charges against Acorda ..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/nation/20110823nat1.html
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