A team of agents from the National Bureau of Investigation with lawyers from the Bangko Sentral ng Pilipinas arrested last Thursday in Baguio City convicted banker Gamaliel de Guzman Ledda, Jr., former Vice-President of the shuttered Homeowners Savings & Loan Association, Inc. (HOSLA). He will be turned over to the National Bilibid Prisons in Muntinlupa City.
Ledda was charged in October 2001 before the Regional Trial Court of Quezon City (RTC-QC), Branch 222, with Violation of Section 83 of Republic Act No. 337, as amended by Presidential Decree No. 1795 (DOSRI law provision), in relation to Section 36 of Republic Act No. 7653, for diverting the proceeds of a fictitious loan to his own company. At the time the offense was committed, he was the Vice-President of HOSLA.
On 22 June 2007, a Decision was rendered by Presiding Judge Rogelio M. Pizarro of the RTC-QC, Branch 222, finding Ledda guilty of the offense charged for which he was sentenced to six years imprisonment and to pay a fine of Fifty Thousand Pesos. The decision became final and executory on 21 July 2007.
Even before his conviction, however, Ledda jumped bail and went into hiding. He remained at large until the BSP’s Office of Special Investigation received information that Ledda was in hiding in Baguio City.
With his arrest, the BSP will move for the resumption of the trial of other cases against Leda. The BSP actually charged Ledda with several criminal cases for defrauding HOSLA and the BSP. However, after he evaded service of sentence in the DOSRI violation case, the trial of other cases against him pending in other Courts were suspended.
The BSP said violation of banking laws by bank directors and officers will be prosecuted to the fullest extent of the law.