A FORMER rural bank officer was sentenced to a year of imprisonment for creating fake loan accounts in a financial statement submitted to the Bangko Sentral ng Pilipinas (BSP) for which the executive pleaded guilty.

In a statement on Wednesday, the BSP said: “The Municipal Circuit Trial Court of Carmen-Sto. Tomas-Braulio E. Dujali of Davao del Norte convicted a former officer of the now-closed Rural Bank of Sto. Tomas (Davao), Inc. for violating Section 35 of Republic Act (RA) No. 7653 (The New Central Bank Act).”

Based on charges filed by the central bank, the court convicted Rosele R. Solis for creating several dummy loan accounts in the bank’s Financial Reporting Package-Balance Sheet as of Sept. 30, 2012.

“Section 35 of RA No. 7653 punishes the willful making of a false or misleading statement on a material fact to the Monetary Board or the BSP examiners,” the BSP said.

Under the law, anyone who creates false or misleading statements that are true to the BSP may be fined P100,000 to P200,000 or imprisoned for five years at most, at the court’s discretion.

In a separate statement, the Monetary Board revoked the license to operate as a nonstock savings and loan association of Manila Teachers’ Savings and Loan Association, Inc. (MTSLAI).

The revocation was signed by the Monetary Board in Resolution No. 735 dated May 26 for violating RA 8367 or the Revised Non-Stock Savings and Loan Association Act of 1997 as well as BSP rules and regulations.

The Monetary Board, in Resolution No. 1676 on Nov. 17, denied the request for reconsideration on the revocation of MTSLAI’s license to operate as a nonstock savings and loan association.

“The BSP fosters the soundness of the financial system by promoting good corporate governance and regulatory compliance among its supervised financial institutions,” the central bank said. — Keisha B. Ta-asan

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