2020-09-29

Where did the LBC money go?

There are strong indications that LBC Development Bank funnelled a lot of money to its LBC Express Affiliates. Banko Sentral Pilipinas (BSP) itself said so when the bank was closed. Sooner or later, BSP and Philippine Deposit Insurance Corporation may have to run after LBC to get back the unpaid advances. Check out: “LBC Development Bank: Where did the money go?

David Carl Grimes
davidcarlgrimes@gmail.com