Ongpin lawyer to Palace: Declassify all DBP accounts

ABS-CBN News

Posted at Sep 26 2011 03:43 PM | Updated as of Sep 27 2011 03:40 PM

MANILA, Philippines - The lawyer of businessman Roberto Ongpin has challenged the Palace to declassify all information connected to Development Bank of the Philippines’ (DBP) unpaid loan accounts.

In a statement, lawyer Alex Poblador criticized Palace officials for allowing DBP to open records only in connection with Ongpin’s Delta Ventures Resources Inc.’s deals with Philex Mining Corp., among others.

“In any event, my client is not bothered by the declassification as all his dealings with DBP were above-board and he has nothing to hide. What bothers my client is the extent to which his persecutors are going to just to continue this fishing expedition against him,” Poblador stressed.

In a reply-letter to DBP President and Chief Executive Francisco del Rosario Jr. dated September 13, Executive Secretary Paquito Ochoa said, “your letter request to allow the DBP board of directors to reveal for examination/inquiry any information relative to details of individual accounts or specific banking transactions in exceptional cases of alleged anomalous transactions…is hereby approved.”

This concerns the Delta Ventures-Philex deal, Global Air Services Inc. and Metrorail Transit Corp. deal, the installment sale of Meralco shares and the investment in Lehman Brothers Holdings, Inc.

Under DBP’s charter, only the President can allow the declassification of information on its transactions.
Poblador also took note of Solicitor General Jose Anselmo Cadiz’s remarks on the matter.

Reacting to the news, Cadiz said the declassification “will make it easier for the OSG and other investigating bodies to investigate and prosecute those who participated in these irregular transactions because we can lay all the facts on the table.”

Cadiz contradicted himself when he said that the government has a strong case against Ongpin, Poblador said. He said this means that Cadiz was merely making charges without any sufficient basis.