Cleared of alleged violations of the Anti-Graft and Corrupt Practices Act were former DBP officials Cesar Zalamea, Rafael Sison, Alicia Reyes, J.V. de Ocampo, Joseph Edralin, and Rodolfo Manalo.
In dismissing the graft complaints, the OMB ruled that the PCGG failed to prove that the loans and accommodations in favor of ALFA Integrated Textile, the rehabilitation plan, and the sale of fixed assets were grossly or manifestly disadvantageous or prejudicial to the government. It also alleged that the loans were used to pay off existing obligations rather than investing the loan proceeds and thus deprived the DBP the opportunity to recover from the loans.
“Petitioner failed to show how the risk Development Bank had taken in extending the loans to ALFA Integrated Textile was arbitrary or malicious. Likewise, it was unable to prove the element of undue injury, that is, the losses that would have been unavoidable in the ordinary course of business, as contemplated by Presidential Commission on Good Government,” it stressed.
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