Department of Justice office in Manila. FILE PHOTO
MANILA, Philippines—The Department of Justice (DoJ) approved the filing of 87 counts of qualified theft case against a former executive of Citibank for allegedly embezzling over P100 million of his client’s money.
In a 57 page resolution, the DoJ’s Task Force on Business Scam, Francis Bryan G. Ang, former assistant vice-president of Citibank’s Citigold Wealth Management Group took advantage of his position in defrauding his clients.
The DoJ said Ang’s position of trust and confidence “gravely abused for the purpose of taking, without the consent of the bank as well as the owners of the accounts, the money as evidenced by the applications for fund transfers, managers checks and cash withdrawal receipts.”
The DoJ added that the account holders have denied that it was their signature that appeared on each of the subject transactions entered into with Ang has established the falsification of signatures.
“Since the allegedly falsified documents consisting of cash withdrawals slips, applications for manager’s checks and applications for account fund transfers fall within the category of commercial documents used in general by merchants or businessman to promote or facilitate trade, there exists probable cause to charge him with the complex crime of qualified theft through falsification of commercial documents,” the DoJ said.
On the other hand, the DoJ dismissed the case against Oliver Salud, Sherjack Siao, Joanne Salud, Joanne Karla Uy, Robinson Siao, Steven Uy, Philip Keith Ang, Esther Gobio Ang, Antonio Samson and Belina Cancio for insufficiency of evidence.
The case stemmed from the complaint filed Raul Martin J. Uson, Vice President for Branch Services of Citibank.
The DoJ prosecutors did not recommend a bail for Ang’s temporary liberty.
Early this year, the Court of Appeals freezed the account of Ang in Citibank, Banco de Oro, Unibank, Citicorp Financial Services & Insurance Brokerage, East West Bank, HSBC, Rizal Commercial Banking Corp., Metrobank, Bank of the Philippine Islands, Allied Bank, Union Bank, Philippine. National Bank, Sterling Bank of Asia and Union Bank.
The appeals court also issued a freeze order on 4 vehicles of Ang.