Gamaliel de Guzman Ledda, Jr., former Vice-President and Senior Manager of Homeowners Savings and Loan Association, Inc. (HOSLA), was convicted by the Regional Trial Court of Quezon City (RTC-QC) Branch 217 for Falsification of Commercial Documents, Estafa and for violation of Section 21 of Republic Act No. 7906.
The RTC-QC Branch 217 promulgated in open Court, on 05 February 2016, its Judgment dated 22 May 2015, finding Ledda guilty on three (3) counts of Falsification of Commercial Documents, two (2) counts of Estafa, defined and penalized under Article 172, in relation to Article 171, and Article 315 (2a), respectively, of the Revised Penal Code, and two (2) counts of Violation of Section 21 of Republic Act No. 7906 (The Thrift Banks Act of 1995).
For his conviction on three (3) counts of Falsification of Commercial Documents, Ledda was sentenced to suffer imprisonment of four (4) years and one (1) day of prision correccional as minimum to six (6) years of prision correccional as maximum, and to pay a fine of Php 15,000.00 for each count; for his conviction on two (2) counts of Estafa, Ledda was sentenced to suffer imprisonment of four (4) years, two (2) months, and one (1) day of prision correccional as minimum to six (6) years of prision correccional as maximum, with the imposable accessory penalties, for each count; and for his conviction on two (2) counts of Violation of Section 21 of Republic Act No. 7906 (The Thrift Banks Act of 1995), Ledda was sentenced to suffer imprisonment of six (6) years and to pay a fine of Php 10,000.00 for each count. Also, as his civil liability, Ledda was adjudged to indemnify the Bangko Sentral ng Pilipinas (BSP) the sum of Php 1.109 Million, more or less.
The criminal cases filed against accused Ledda arose from the fraudulent rediscounting by HOSLA, with the Department of Loans and Credit of the BSP, of five (5) loan accounts pertaining to the falsified loans of HOSLA’s five (5) alleged borrowers.
Incidentally, since November 2010, Ledda has been incarcerated at the National Bilibid Prisons (NBP), in Muntinlupa City, arising from his prior conviction, in a Decision dated 22 June 2007, before the RTC-QC, Branch 222, for one (1) count of Violation of Section 83 of Republic Act No. 337, as amended by Presidential Decree No. 1795, in relation to Section 36 of Republic Act No. 7653. This case was initiated by the (then) Department of Thrift Banks and Non-Bank Financial Institutions, and arose from the diversion by Ledda of the proceeds of a fictitious loan, supposedly granted by HOSLA, to his own company, Golden Tiara Lending Investor.
While convicted in 2007, Ledda only began serving his 6-year sentence when he was finally arrested in November 2010. Thus, this latest conviction should be considered as an addition to his criminal record and shall serve to prolong his incarceration at the NBP.