AMA Rural Bank of Mandaluyong Inc. (ARB), controlled by billionaire Amable Aguiluz, has asked that the Department of Education (DepEd) refund P1.495 billion in unpaid collections from public school instructors, threatening legal action against top officials.
In a letter dated February 12, 2025, ARB chief operating officer Felino H. Esquivias Jr. urged Annalyn M. Sevilla, DepEd Undersecretary for Finance, to disburse the monies within five days.
The total comprises P734.57 million received between September 2019 and April 2022, as well as another P760.6 million collected between May and November 2022 under the Automatic Payroll Deduction System.
Sevilla confirmed the original sum in a letter dated May 2022, but has yet to remit the funds, according to ARB.
If Sevilla and other DepEd officials do not comply, the bank will submit complaints with the Ombudsman and the Civil Service Commission.
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