P900-M internal fraud rocks Metrobank

**Monseratto** · July 22nd, 2017 06:46 PM

Either someone squealed cuz they didn't get a piece of the action, or someone did their job... George Ty should do a top to bottom purge of all the officers who were connected with this rogue VP.

Metrobank probes possible conspiracy | Inquirer Business

According to two sources who spoke to the Inquirer, the manipulation of loan releases into accounts of fictitious borrowers was also likely made easier by the “relatively high stature of the suspected rogue banker in the country’s second-biggest financial institution.”

“Everyone knew that Mavic was an important person in the bank,” said a source who has dealt with the suspect, Maria Victoria Lopez, 54, a corporate services assistant vice president of Metrobank. “She had a fancy car, she had a bodyguard and she knew the [bank’s] owners.”

The second source said that due to her status within Metrobank’s Makati City head office, she could order the execution of transactions even without the benefit of complete documentation.

“People trusted her, or were afraid of saying ‘no’ to her when she gave an order,” the banker said.

“We understand that this URC account has been used for this activity since 2012,” he added, referring to the fictitious bank account opened in the name of the Gokongwei family-owned Universal Robina Corp.

**kagalingan** · July 22nd, 2017 06:50 PM

Mukhang malaki na nakubra....

Ano mga ikakaso sa kanyan at grabe retirerement mo sa correctional na.....

**dreamur** · July 22nd, 2017 07:47 PM

Total failure of internal control and segregation of duties.

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**StockEngine** · July 22nd, 2017 07:53 PM

ilang years kaya kulong ni tita lopez?

**CVT** · July 22nd, 2017 07:58 PM

The second source said that due to her status within Metrobank’s Makati City head office, she could order the execution of transactions even without the benefit of complete documentation.

“People trusted her, or were afraid of saying ‘no’ to her when she gave an order,” the banker said.

“We understand that this URC account has been used for this activity since 2012,” he added, referring to the fictitious bank account opened in the name of the Gokongwei family-owned Universal Robina Corp.

Wow!

I wonder how they passed audit since 2012 and earlier....

The Auditors should also be investigated....

**Monseratto** · July 23rd, 2017 12:10 AM

Deleted na yung FB account niya...

http://bilyonaryo.com.ph/2017/07/22/...premier-salon/

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**Walter** · July 23rd, 2017 06:23 AM

Originally Posted by leonleon

MB is worth 2 trillion.

2 billion is only .001% of that.

You mean 0.1% ~ 0.001

**dr. d** · July 23rd, 2017 10:19 AM

so why did she think, she won't get caught?

**Walter** · July 23rd, 2017 11:15 AM

Maybe there's collusion? ...

**br733** · July 23rd, 2017 01:04 PM

Originally Posted by dreamur

I heard the m.o. was she used an existing client's credit line (RFC?) To execute fictitious loans and deposit it to various fictitious accounts (bank/investment/trust) that earn interest higher than the loan. Pay off the interest from the loan and pocket the difference. The flag was raised when payment of the interest (mc) was drawn from a personal account instead of the client's. That is why MBTC is saying that the P900M loan is "intact" under fictious names. The question is how to get it back.

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all along i could not understand how the she got caught with the 2.25 million interest payment to a person. i thought the interest payment should have been made in favor of the bank.

the above explanation makes more sense except that if i use the above logic, the loan rate of metrobank to urc should be lower than the placement rates she can get elsewhere which also does not make sense also.

perhaps a congressional hearing will help us understand.