Metrobank in P900M trouble with rogue officer?
The modus: fake loans were supposedly approved for a big-time client, but the funds simply went to her purse.
Metropolitan Bank & Trust Company (Metrobank) found itself in the middle of a fraud reportedly engineered by one of its officials.
The Philippine Daily Inquirer reported that the bank owned by bilyonaryo George Ty could have lost as much as P2.5 billion after a vice president in the name of Maria Victoria Lopez supposedly released loan proceeds in tranches of P30 million for conglomerate Universal Robina Corp., but were instead shifted to fake deposit accounts.
The money was then transferred to other banks and eventually found its way to Lopez’s pockets, the Inquirer report added. So far, at least P900 million was confirmed to have been shored up by the bank official.
Lopez is currently in the custody of the National Bureau of Investigation after her arrest on Monday, July 17.
The central bank will roll out its own probe on the case.