ADMINISTRATIVE ORDER NO. 162, July 27, 1951
REMOVING MR. BERNARDO BAGAMASPAD FROM OFFICE AS PROVINCIAL TREASURER OF COTABATO
It appears from the decision of the Supreme Court, affirming that of the Court of First Instance of Cotabato, that, in utter disregard of the instructions and regulations of the Philippine National Bank and with gross negligence and carelessness, respondent and his assistant, Mr. Bienvenido M. Ferrer, granted special crop loans to unqualified and insolvent borrowers; and that as a result thereof the Philippine National Bank suffered losses in the huge amount of P699,803.57 which they were required to reimburse to said entity.
Wherefore, Mr. Bernardo Bagamaspad is hereby removed from office as provincial treasurer of Cotabato, effective as of February 13, 1948, the date of the preventive suspension.
Done in the City of Manila, this 27th day of July, in the year of Our Lord, nineteen hundred and fifty-one, and of the Independence of the Philippines, the sixth.
President of the Philippines
By the President:
(Sgd.) MARCIANO ROQUE
Acting Assistant Executive Secretary