DBP: BSP directive prompted probe into Ongpin loans
Ongkiko-Acorda said the sale of DBP's Philex shares to Ongpin -- which was financed by the loans Ongpin obtained from DBP itself -- deprived the bank of "opportunity" gains of P412 million. Ongpin earlier said that his transactions with DBP were some of the "most profitable" ever entered into by the bank.
DBP-Ongpin-Philex controversial deals detailed - ABS-CBN News
We will also explain the context by which these controversial deals took place. Loan for the buyer. Even before the controversial half-a-billion loan that DBP extended to the Ongpin group in November 2009, the state-owned bank had granted several multi-million loans to companies associated with Ongpin, including Deltaventure Resources Inc. (DVRI)
Sandiganbayan junks graft raps vs Ongpin, ex-DBP officers
Ongpin was accused of forging 'behest' loan deals with former DBP officials and executives in 2009 ... 28, graft charges against controversial businessman Roberto Ongpin and former officers and
Ongpin: I was not a front for Mike Arroyo in DBP loans
- At a Senate inquiry on Monday, controversial businessman Roberto Ongpin said he did not act as a "front" for former First Gentleman Mike Arroyo in a P660-million loan from the Development Bank of the Philippines (DBP). Ongpin made the statement before a Senate inquiry of the banks and blue ribbon committees because of the controversial P660
Graft raps filed vs Ongpin, 25 ex-DBP execs | Inquirer News
It said that DBP’s Philex shares were sold to DVRI at P12.75 per share, and that the firm sold these a month later at P21 per share, thus depriving the government bank of an opportunity trading
- Did Ongpin buy Philex shares?
- In essence, Ongpin had obtained a loan from DBP and used it to buy the bank’s Philex shares. The transaction deprived the government bank of an opportunity to make a profit of P412.4 million had it been the seller of the Philex shares, DBP said in the complaint.
- Did dvri buy Philex shares?
- Ongpin and Pangilinan were both sitting on the Philex board when DVRI bought DBP’s Philex shares. In essence, Ongpin had obtained a loan from DBP and used it to buy the bank’s Philex shares.
- Did DBP grant a p510-million loan to a 'puny company'?
- In the complaint filed in August 2011, DBP, under new leadership, questioned the grant of a P510-million loan to a “puny company” that had a paid-up capital of only P625,000.
