Quimbo and three (3) were charged with violation of Section 3 (e) and (g) of Republic Act No. 3019, or the Anti-Graft and Corrupt Practices Act, and the Pag-Ibig Charter. Cosico was also charged with violation of Presidential Decree No. 1829 or the Anti-Obstruction of Justice Law for the alleged coverup of their actions.
In his affidavit of complaint, Alvarez charged Quimbo, Fabiana, Cosico and Espana with failing to implement the decision of the Pag-Ibig board to launch a pilot lending program targeting self-employed and overseas Filipino workers on June 30, 2008, which called for credit investigation evaluation and for Pag-Ibig to deal directly with borrowers. Read more: http://newsinfo.inquirer.net/611542/former-pag-ibig-exec-files-corruption-raps-vs-quimbo-3-others
Quimbo questioned why Alvarez took five years to file the charges. Alvarez is one of the coaccused in the P6.6-billion estafa cases filed by Pag-IBIG Fund against Lee. Keep on reading: http://www.philstar.com/opinion/2014/06/17/1335658/p-noy-trusts-binay