NBI arrests Metrobank officer suspected involved in P900m internal fraud

July 21, 2017

Operatives of the National Bureau of Investigation arrested a bank official suspected in millions of pesos in internal fraud  at the Metropolitan Bank and Trust Co. (Metrobank). NBI officials presented Maria Victoria Lopez, 54, vice president of the Corporate Service Unit at Metrobank’s head office, to the media Friday. She wore an orange shirt worn by detainees and her entire head was covered by a scarf. In a media briefing, NBI spokesperson Ferdinand Lavin said Lopez will be charged with qualified theft, falsification and violation of the General Banking Law. He said Lopez has refused to cooperate in the investigation.  "At this point of the investigation, she’s not cooperating; she’s not talking," Lavin said. “Upon our own discovery, the Bank immediately caused the arrest of the individual involved in this case, who has been detained by the authorities since Monday,” Metrobank said in a disclosure to the stock exchange on Friday. Lavin said Lopez made two different loans amounting from P900 million and P850 million from the P25 billion facility of the client. "She made out loans. She made out an account to which the reprised interest should go there", Lavin said. The suspect was presented to the Makati prosecutor office after the arrest. Metrobank suspected Lopez after "an employee discovered a falsified letter directing the bank to issue a manager's check in individual payee" last June 30, Lavin said. They said the bank is not allowed to issue a manager's check to an individual payee that is a member of the corporate lines. Lavin said the bank sought the help of NBI when the client told them that he did not avail the loans. "The bank conducted an internal  inquiry confirmed with the client if  the client has a loan to the bank or if they have thrown down against the credit line and much their dismay to discover that such loans are unknown to the client", said Norman Aguirre, an NBI agent. NBI said the client is supposed to pay P2.250 million worth of loan interest to an account created by Lopez. "If this was not discovered if it went through then she would have 2.250 million in her account. This is the...additional interest from the loan", Lavin said. NBI officials said if Lopez was not caught the interest of the loans she created would rise. They said NBI is conducting a follow-up investigation on the case about "other possible collaborators and common conspirators". Lavin said "remember the biggest loss to this is the integrity of the banking system however on the internal control system of the bank". The Bangko Sentral ng Pilipinas launched an investigation into the internal security controls of the bank. The House of Representatives’s banking committee said it will summon representatives from the BSP and Metrobank to a hearing. (Alanna Ambi/DMS)