BSP announces five convictions for rural bank fraud and unlicensed services

Two former rural bank officers were convicted for fraudulent loan transactions.

The Philippine court has convicted five individuals who were previous rural bank officers, or operated unregistered money changers and a pawnshop, according to the Bangko Sentral ng Pilipinas (BSP).                                

Geronimo Reyes, former director and officer of the Rural Bank of Kinogitan, Inc., was convicted for fraudulent loan transactions and a false statement. He was sentenced to imprisonment of up to three years.

Reyes was separately convicted for fraudulent loan transactions, this time as a former officer of the closed Siam Bank (A Rural Bank), Inc., and was sentenced to imprisonment of up to three years.

He was also convicted for falsification of commercial documents involving Siam Bank, fined about $8 (PHP500), and was sentenced to imprisonment of up to four months.

Emerito R. Lindog, former chair and officer of the closed Sto. Rosario Rural Bank, Inc., was convicted by the Lipa City RTC for fraudulent loan transactions, according to the Bangko Sentral ng Pilipinas. Lindog was sentenced to pay a fine of $11,980 (PHP 750,000).

Two individuals were convicted for operating an unregistered money changing business. Mohammad Sakaluran Sauti was sentenced to a fine of $2,395 (PHP150,000), whilst Alberto Sta. Ana, Jr., was fined $3,195 (PHP200,000).

Diogenes T. Avila was convicted in three different trial courts for operating an unregistered pawnshop, and will collectively pay a fine of about $830 (PHP52,000). Avila is also sentenced to imprisonment for three years, with subsidiary imprisonment in case of insolvency.

(US$1 = PHP62.61, as of 18 September 2026)