Teodoro Borlongan
Encyclopedia
Teodoro C. Borlongan was the last president of the Urban Bank
and was unofficially known as one of the leading bankers in the Philippines
.
Borlongan was named one of the Ten Outstanding Young Men for domestic banking in 1993. He graduated cum laude from the Honors Economics program of the Ateneo de Manila University
in 1978. In the 1980s, he became president of Urban Bank, which he turned into one of the largest banks in the Philippines during his long tenure there. Court cases, however, forced the Bangko Sentral ng Pilipinas
to shut it down on April 26, 2000.
Over the years that followed, the numerous court cases that came upon Borlongan, including charges of economic sabotage--then punishable by the death penalty, and what he thought was his failure to obtain justice from those who he accused as allegedly responsible for Urban Bank's permanent closure ultimately drove him into depression
. On April 11, 2005, he brought flowers to the graves of his late parents and brother at the Loyola Memorial Park in Marikina City
. After sending an e-mail
to a close friend and making calls on his cellular phone to his wife and close relatives, he stepped into his parked car and committed suicide
with a gunshot to his left temple. He was four days short of his 50th birthday, leaving behind his wife, Dolly, and their four young children, Katherine, Jonathan, Christopher and Stephanie.http://www.asianjournal.com/pdf/pdfs/asianjpdf/april_05/0414_lv/p.2.pdf
Urban Bank
Urban Bank , also known by its initials UBI, was a middle size bank in the Philippines. The bank, along with its two subsidiaries, declared a voluntary bank holiday for failing to meet withdrawals and was consequently closed by the Bangko Sentral ng Pilipinas and put under the mandatory...
and was unofficially known as one of the leading bankers in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
.
Borlongan was named one of the Ten Outstanding Young Men for domestic banking in 1993. He graduated cum laude from the Honors Economics program of the Ateneo de Manila University
Ateneo de Manila University
The Ateneo de Manila University is a private teaching and research university run by the Society of Jesus in the Philippines. It began in 1859 when the City of Manila handed control of the Escuela Municipal de Manila in Intramuros, Manila, to the Jesuits...
in 1978. In the 1980s, he became president of Urban Bank, which he turned into one of the largest banks in the Philippines during his long tenure there. Court cases, however, forced the Bangko Sentral ng Pilipinas
Bangko Sentral ng Pilipinas
The Bangko Sentral ng Pilipinas and commonly abbreviated as BSP is the central bank of the Philippines. It was rechartered on July 3, 1993, pursuant to the provision of the 1987 Philippine Constitution and the New Central Bank Act of 1993...
to shut it down on April 26, 2000.
Over the years that followed, the numerous court cases that came upon Borlongan, including charges of economic sabotage--then punishable by the death penalty, and what he thought was his failure to obtain justice from those who he accused as allegedly responsible for Urban Bank's permanent closure ultimately drove him into depression
Depression (mood)
Depression is a state of low mood and aversion to activity that can affect a person's thoughts, behaviour, feelings and physical well-being. Depressed people may feel sad, anxious, empty, hopeless, helpless, worthless, guilty, irritable, or restless...
. On April 11, 2005, he brought flowers to the graves of his late parents and brother at the Loyola Memorial Park in Marikina City
Marikina City
Marikina, officially the City of Marikina, known as the Shoe Capital of the Philippines, was former capital of the province of Manila during the declaration of Philippine Independence and one of the sixteen cities within the Manila Metropolitan Area. Marikina is part of Eastern Manila District of...
. After sending an e-mail
E-mail
Electronic mail, commonly known as email or e-mail, is a method of exchanging digital messages from an author to one or more recipients. Modern email operates across the Internet or other computer networks. Some early email systems required that the author and the recipient both be online at the...
to a close friend and making calls on his cellular phone to his wife and close relatives, he stepped into his parked car and committed suicide
Suicide
Suicide is the act of intentionally causing one's own death. Suicide is often committed out of despair or attributed to some underlying mental disorder, such as depression, bipolar disorder, schizophrenia, alcoholism, or drug abuse...
with a gunshot to his left temple. He was four days short of his 50th birthday, leaving behind his wife, Dolly, and their four young children, Katherine, Jonathan, Christopher and Stephanie.http://www.asianjournal.com/pdf/pdfs/asianjpdf/april_05/0414_lv/p.2.pdf
External links
- He was last seen on his mother's tomb, Las VegasLas Vegas, NevadaLas Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
Asian Journal - Police ruled out foul play in death of Urban Bank president
- Urban Bank president commits suicide, The Philippine StarThe Philippine StarThe Philippine Star is a daily English-language broadsheet newspaper based in Manila and circulated nationwide in the Philippines. Owned and published by PhilSTAR Daily, Inc, it was founded on July 28, 1986 by veteran journalists Max Soliven, Betty Go-Belmonte and Art Borjal...
- http://www.bsp.gov.ph/publications/media_archives.asp?id=1332&yr=1999 BSP's commentaries