Connect with us

Hi, what are you looking for?

Economy

PSC case against payroll cheats goes to regional trial court

The Department of Justice found probable cause on the complaint filed by the Philippine Sports Commission (PSC) and the National Bureau of Investigation against former employees involved in a payroll padding scheme.

In a 23-page resolution signed by Assistant State Prosecutor Moises Acayan, Sr. Deputy State Prosecutor Richard Fadullon and Prosecutor General Benedicto Malcontento, the filing of several counts of qualified theft, attempted qualified theft, cyber-related forgery and computer-related fraud has been recommended against Paul Ignacio, Michaelle Jones Velarde and Lymuel Seguilla.

The PSC has been resolutely following the case, determined to bring those accountable to justice.

The episode has been a learning experience for the sports agency, forcing it to look at the handling of its affairs and make the necessary changes.

“It is a regrettable incident but it compelled us to fast-track upgrades and consider a second look at existing processes,” PSC Chairman William Ramirez in a release…

Aside from the NBI which has been helping the PSC from the onset, Mr. Ramirez also said that they sought the help of the Office of the Solicitor General and the Anti-Money Laundering Council in ensuring that the funds are returned to the government. 

As recommended in the Justice Department resolution, cases will be filed in the Regional Trial Court of Imus, Cavite.

In July last year, Mr. Ignacio was discovered redirecting funds to his own bank account.

He used to handle payroll preparation for the agency. During the investigation, two more employees were discovered working in connivance with Mr. Ignacio.

The modus reportedly had been done for the last five years and cost the government millions of pesos before it was uncovered.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Preliminary results of Philippine Statistics Authority’s latest Labor Force Survey showed there were around 3.764 million unemployed Filipinos in June, inching up from 3.730...

Economy

THE PHILIPPINE economy’s recovery will depend on how quickly business confidence is restored, which will in turn boost private sector investments, Moody’s Investors Service...

Economy

INVESTMENT PLEDGES approved by the Philippine Economic Zone Authority (PEZA) climbed by 8.5% in the first half after coming off a low base last...

Economy

CHINA LIANHE Credit Rating Co. maintained its “AAA” credit rating for the Philippines with a “stable” outlook, as it expects economic recovery to begin...

Economy

AYALA Land, Inc. (ALI) on Tuesday said it generated P3.3 billion in the second quarter, over 16 times the P426-million income it logged year...

Economy

SOLAIRE Resort & Casino operator Bloomberry Resorts Corp. finished the quarter with a “respectable” performance after trimming its consolidated net loss to P1.2 billion,...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!