Former LandBank manager calls OVP’s ₱500-million check encashments ‘unusual’

A retired manager of Land Bank of the Philippines described the Office of the Vice President’s (OVP) four ₱125-million check encashments as "unusual," testifying before the Senate impeachment court on Wednesday that she had never encountered similar transactions from other government agencies.

Retired Shaw Boulevard branch manager Violeta Constantino made the remark under questioning by Senator-Judge Erwin Tulfo, shortly after the defense confirmed the authenticity of four LandBank checks totaling ₱500 million. The checks were encashed by former OVP Special Disbursing Officer Gina Acosta.

When asked if any other agency had withdrawn such a massive amount of cash, Constantino replied in Filipino: "Wala po. Unusual po ito."

Constantino previously testified that she personally supervised the encashment of the four checks at her branch between December 2022 and July 2023. While the branch handled accounts for numerous government bodies, she noted that none made comparable physical cash withdrawals because most had long shifted to electronic disbursements.

"So far po, nag-convert na po lahat kasi sila sa online system, laging sa ATM payroll. So hindi na po ganyang kalalaking withdrawal po nila," Constantino said. (So far, everyone has converted to online systems or ATM payrolls, so they no longer make withdrawals that large.)

Tulfo asked whether high-ranking offices were exempt from standard banking procedures governing large cash withdrawals.

"Wala na po ang exemption," Constantino answered, confirming that no such exemptions exist.

She clarified, however, that the OVP adhered to standard bank protocol by providing advance notice before each withdrawal. This permitted the branch to request additional funds from its cash center, as a single ₱125-million transaction far exceeded the branch's daily cash-on-hand and vault limits.

"Kasi po may advice naman po siya. So dumaan naman po ito sa process nila," she added, noting that the required process was nevertheless followed.

-Paraluman News