By The Financial District
Dec 27, 20211 min
The Municipal Trial Court of Rosario, Cavite (MTC-Rosario) and Regional Trial Court of Cavite City (RTC-Cavite City) convicted a former officer of the now closed Rural Bank of Salinas (Cavite), Inc. (RB Salinas) for violation of the Revised Penal Code, The New Central Bank Act, and The General Banking Law of 2000.
Photo Insert: The Rural Bank of Salinas, Cavite
The courts convicted the bank’s former President/Manager Teodoro G. Salud based on a criminal complaint filed by the Bangko Sentral ng Pilipinas (BSP) with the Department of Justice in April 2018.
In its decision dated 15 November 2021, MTC-Rosario sentenced Salud to imprisonment of six months to two years and four months, and to pay a fine of Php 5,000.00, for each of the 14 counts of Falsification of Commercial/Public Documents under the Revised Penal Code.
Its decision dated 15 November 2021, MTC-Rosario sentenced Salud to imprisonment of six months to two years and four months, and to pay a fine of Php 5,000.00, for each of the 14 counts of Falsification of Commercial/Public Documents under the Revised Penal Code.
In the same decision, the court also sentenced Salud to imprisonment of one year and one day to five years for each of the six counts of violation of False Statement of The New Central Bank Act.