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Soriano and Ilagan vs. People, BSP and PDIC

HILARIO P. SORIANO and ROSALINDA ILAGAN, Petitioners, versus PEOPLE OF THE PHILIPPINES, BANGKO SENTRAL NG PILIPINAS (BSP), and PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC), Respondents.

G.R. Nos. 159517-18 | 2009-06-30

DECISION

NACHURA, J.:

Petitioners Hilario P. Soriano and Rosalinda Ilagan (petitioners) appeal by certiorari the August 5, 2003 Decision[1] of the Court of Appeals (CA) in the consolidated cases CA-G.R. SP. Nos. 64648 and 64649.

The antecedents.

Hilario P. Soriano (Soriano) and Rosalinda Ilagan (Ilagan) were the President and General Manager, respectively, of the Rural Bank of San Miguel (Bulacan), Inc. (RBSM). Allegedly, on June 27, 1997 and August 21, 1997, during their incumbency as president and manager of the bank, petitioners indirectly obtained loans from RBSM. They falsified the loan applications and other bank records, and made it...