This video attempts to explain why Banco Filipino failed for a second time in March 2011 and why the best way to rob a bank in the Philippines is to own one. Part II describes the sale of disguised loans to dummy corporations and how this adversely affected the bank's financial condition. It also illustrates how the Philippine regulatory and justice system make it very difficult to ferret out and prosecute financial fraud in the Philippines.
Link to this comment:
All Comments (2)