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Alleged Irregularities in the Disbursements of UBFHAI Funds by Former Officers. |
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MISSING RECORDS FOUND REVEALED ALLEGED IRREGULARITIES IN THE DISBURSEMENTS OF UBFHAI FUNDS BY FORMER OFFICERS
- Alleged Irregular Encashment of P300,000 Check intended for NLRC
- Alleged Irregular Conversion of P9.7M in restricted funds (other peoples’ money held in trust by UBFHAI only) to USDollar
- Alleged Unrestrained Disbursement of UBFHAI funds paid directly to Celso Reyes (2006 and 2007)
- Alleged Unrestrained Disbursement of UBFHAI funds paid to CASH
- Independent Auditor’s Report revealed Alleged Irregularites in the disbursements of UBFHAI funds
Alleged Irregular Encashment of P300,000
Check intended for NLRC
Check for P300,000.00 payable to NLRC signed by Jaime Lazaro and Ronaldo Mina was altered to include “OR CASH” as another payee.
The alteration was signed by Celso Reyes ONLY.
Then the check was encashed by Celso Reyes.
The Allied Bank may likely also be liable for allowing the encashment of the check as the UBFHAI by-laws requires that at least two authorized signatories must sign the checks including alterations.
Alleged Irregular Conversion of P9.7M in restricted funds (other peoples’ money held in trust by UBFHAI only) to USDollar
Construction bond deposits which are refundable, were used to buy US Dollars. Amount converted was P 9,704,700.00
Alleged Unrestrained Disbursement of UBFHAI Funds paid directly to Celso Reyes (2006 and 2007)
Unrestrained use of association funds: Total disbursements to Celso Reyes in 2006.
Unrestrained use of association funds: Total disbursements to Celso Reyes in 2007.
Alleged Unrestrained Disbursements Payable to Cash
Unrestrained use of association funds: Disbursements paid to cash in 2006
Independent Auditor’s Report Revealed Alleged Irregularities in the Disbursement of UBFHAI Funds
>>>>>>> pls click here -> [ Audit Reports ] to view the report <<<<<<<<
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