Manila: The four PHP125 million cash withdrawals executed by the Office of the Vice President (OVP) have been described as unusual and unprecedented by Violeta Constantino, a retired manager from the Land Bank of the Philippines' Shaw Boulevard branch. This statement was made during a testimony at the Senate impeachment court, where Constantino discussed the transactions in response to questions from Senator-Judge Erwin Tulfo.

According to Philippines News Agency, Constantino highlighted that these transactions, which involved former OVP Special Disbursing Officer Gina Acosta encashing four authentic Landbank checks totaling PHP500 million, were unlike any she had encountered during her tenure. She noted that while the branch managed accounts for several government agencies, such large cash withdrawals were atypical, as most agencies had transitioned to electronic transactions.

Constantino further explained that although the OVP provided advance notice of these transactions, allowing the bank to prepare the necessary cash, such significant cash withdrawals were not common. During questioning by Senator-judge Risa Hontiveros, Constantino reiterated that the sheer size of the withdrawals, all in physical cash, was unprecedented in her 32-year career, as government agencies typically used checks for disbursements.

The transactions, which converted PHP500 million in Treasury-funded OVP money into physical cash, involved moving the money in about four gym bags using a trolley. Constantino clarified that no armored vehicle delivery was arranged due to the absence of a memorandum of agreement for cash delivery services. Despite the unusual nature of the transaction, Senator-judge Alan Peter Cayetano remarked that such transactions are not automatically unlawful if proper documentation is in place, a sentiment Constantino agreed with.

Constantino noted that the bank did not inquire about the intended use of the cash, as the OVP had followed protocol by providing advance notice. The transactions were verified as authentic by the defense, confirming that the checks were funded through the Philippine Treasury and encashed by Acosta in her official capacity. Constantino mentioned that she was unaware if the funds were for confidential or intelligence purposes.