Uncleared foreign checks in complete disregard of

This preview shows page 75 - 77 out of 138 pages.

uncleared foreign checks in complete disregard of existing banking regulations, that was subsequently returned by the drawee bank as a fraudulent foreign check, thus causing undue injury to complainant PNB in the total sum of P4,000,000.00. CONTRARY TO LAW. Upon arraignment, Raymundo entered a plea of not guilty to the charge. He waived his right to a pre-trial, and trial on the merits ensued. After trial, the RTC rendered the Decision dated December 4, 2009, the dispositive portion of which reads: In light of the foregoing, it is very clear that the prosecution failed to establish the guilt of accused Pablo V. Raymundo beyond reasonable doubt for the crime charged. Consequently, accused Pablo V. Raymundo is hereby acquitted of the charge of Violation of Sec. 3(e), R.A. 3019. No costs. SO ORDERED.
Image of page 75

Subscribe to view the full document.

The RTC held that it would be too harsh and inequitable to impose criminal liability upon Raymundo, who approved the withdrawal because of his belief that the checks were funded, due to the absence of the stamp mark "Returned Check'' on the checks, and check return slips. Considering that Raymundo's duties as Branch Manager entailed a lot of responsibility, the RTC found it almost unreasonable to expect him to directly and personally check the books of accounts of each particular client every time a check is presented to the bank for payment and for his approval. The RTC stressed that it has been established that the responsibility to go over the account records of clients falls on the bookkeeper, and Raymundo's act of relying upon the bookkeeper's verification that the checks were good cannot be deemed gross and inexcusable negligence. Aggrieved, the PNB appealed from the civil aspect of the RTC Decision which acquitted Raymundo of the charge of violation of Section 3(e) of R.A. No. 3019. In a Decision dated May 31, 2013, the CA denied the PNB's appeal for lack of merit. In a Resolution dated August 14, 2013, it also denied the PNB's motion for reconsideration for lack of merit. It ruled that Raymundo acted in good faith in relying upon his subordinates, i.e. , the bookkeeper and accountant, who were primarily assigned with the task of clearing the checks and ensuring that they are sufficiently funded. It held that he has no duty to go beyond the verification of the documents submitted by the bookkeeper and the accountant, and to personally authenticate the procedures taken. It added that considering that his duties as Branch Manager entails a lot of responsibility, it is unreasonable to require him to accomplish and direct a personal examination of the records of the account of each particular client before affixing his signature on the documents as approving authority. Dissatisfied, the PNB filed this petition for review on certiorari , arguing that the CA committed serious errors, namely: (1) when it ruled that the trial court aptly concluded that there was lack of malice or bad faith, nor negligence on the part of Raymundo in approving the payment of
Image of page 76
Image of page 77

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern