MANILA, Philippines - Senate committees have already submitted a report on initial findings on the investigation of alleged behest loans granted to Roberto V. Ongpin, Senator Sergio R. Osmeña III said.

"The Blue Ribbon Committee and the Committee on Banks, Financial Institutions and Currencies are finished with the Philex [Mining Corp.] investigation which is part of the Ongpin-DBP (Development Bank of the Philippines) investigation," Osmeña told ANC's Inside Business with Coco Alcuaz on Wednesday evening.

"The Chairman's Report to the Members as we call it will be signed by Senator TG (Teofisto) Guingona (III)," Osmeña continued.

A Senate investigation was launched against Ongpin in 2011 due to alleged behest loans approved and granted by DBP to the former Trade Minister, with the borrowing proceeds used to buy Philex shares and rake in short-swing profits.

"We were asked to undertake an investigation in aid of legislation and we did," Osmeña said.

"We came up with findings and we found that various laws have been violated: violation of the Securities and Exchange [Commission] code, violation of the Bangko Sentral [ng Pilipinas] code, violation of the Manual of Regulations for Banks issued by the Bangko Sentral, violation of the Anti-Graft and Corruption Practices Act," he continued.

However, the lawmaker said there are five parts to the investigation as other DBP loans deemed to be anomalous will be scrutinized.

"I just want to let the Filipino people know, the international investment community know that we are serious, that the Aquino government is serious in unearthing all these scams that happened in the previous administrations," Osmeña said.

Earlier, the Ombudsman has already slapped graft charges against Ongpin and former DBP officials for the alleged behest loans.