MANILA, Philippines – Planters Development Bank (PDB) has informed the Sandiganbayan Second Division that it is ready to turnover deposits in a bank account allegedly owned by the family of retired Major Gen. Carlos F. Garcia, former comptroller of the Armed Forces of the Philippines (AFP), who is facing criminal and forfeiture charges before the graft court.

In a pleading submitted in November, lawyers Odel S. Janda and Maricar S. Montano told the court of the existence of PDB Account No. 0060900116 in the name of IJT International Caregiver Center containing deposits amounting to P8,638.12.

Ombudsman prosecutors earlier said the acronym “IJT’ stands for the first names of the three Garcia children – Ian Carl, Juan Paolo and Timothy Mark.

“PDB is prepared to release the said amount to the Republic of the Philippines at any time and in compliance with the Order of the Honorable Court,” the bank said through its lawyers.

The bank said it made the disclosure pursuant to plunder and money laundering charges pending before the Sandiganbayan against the Garcia family.

In 2004, sheriffs of the Sandiganbayan served a freeze order on the administrator of the IJT International Caregiver Center located in Iloilo City on the basis of a P143 million forfeiture case against the family’s assets as part of efforts to charge the former general with plunder.

The plunder charge was filed by the Office of the Ombudsman on April 6, 2005 which included Garcia, his wife Clarita Depakakibo and their three children, as respondents.

Prosecutors accused Garcia of amassing P303.27 million in ill-gotten wealth while in active service with the military. His wife and children were named co-defendants for allegedly helping him conceal suspected unlawfully acquired assets.

In December 2009, the Ombudsman also filed money laundering charges against Garcia concerning alleged withdrawals amounting to P73 million and US$967,215.99 within a period of only four days from October 5 to 8, 2004.

Based on his 2003 statement of assets, liabilities and net worth (SALN), Garcia's declared net worth was only P2.76 million.

Graft investigators said the Garcias also held accounts in UCPB, BPI, LandBank, Allied Banking, Banco de Oro, Export and Industry Bank, Centennial Bank, Armed Forces and Police Savings and Loan Association Inc. (AFPSLAI) and Wing Savings and Loan Association Inc.