Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

Ex-general guilty of bribery and money laundering

by
July 6, 2022
in Investing News
0
Ex-general guilty of bribery and money laundering
0
SHARES
12
VIEWS
Share on FacebookShare on Twitter

THE PHILIPPINES’ anti-graft court has convicted a retired general of bribery and facilitating money laundering after he amassed at least P303 million from illegal commissions, gifts and other schemes during his military tenure.

In an eight-page decision dated July 5, the Sandiganbayan Second Division ruled ex-military Major General Carlos F. Garcia’s crimes had resulted in an undue advantage at the expense of the Filipino people.

It added that the former military official had made “malicious and felonious” transactions with several banks.

Mr. Garcia was initially charged with plunder and money laundering but had entered a plea bargain deal for the lesser offenses of direct bribery and facilitating money laundering in 2010.

As part of the deal, he would surrender P135.43 million worth of cash and real estate properties that he and his family owned to the government.

In its ruling, the anti-graft court sentenced him to as long as 14 years in prison and fined him more than P400 million for both crimes.

Under the country’s law penalizing plunder, a public official who is found guilty of acquiring ill-gotten wealth of at least P50 million may face life imprisonment and permanent disqualification from holding public office.

In 2013, The Office of the Solicitor General appealed the plea bargain.

The Supreme Court last year lifted a temporary restraining order on the retired major general’s case, as it ruled the chief government lawyer had no personality to meddle in the plunder lawsuit.

It said the Sandiganbayan did not abuse its discretion in approving the plea deal because the government prosecutors had failed to prove Mr. Garcia’s guilt for plunder and money laundering beyond reasonable doubt.

The High Court added that the plea deal was “purely upon the discretion of the prosecutor, while its approval is subject to the judicial discretion of the court trying the facts.“ — John Victor D. Ordoñez

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
China envoy sees ‘golden era’ in ties with Manila

China envoy sees ‘golden era’ in ties with Manila

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Peso rebounds vs dollar on lower oil prices, PHL stocks’ 3-day rally

Peso rebounds vs dollar on lower oil prices, PHL stocks’ 3-day rally

August 4, 2022
Trade union spokesperson appointed to social welfare post for ex-rebels 

Trade union spokesperson appointed to social welfare post for ex-rebels 

August 2, 2022
PHL economy seen to expand 6.5% this year

PHL economy seen to expand 6.5% this year

August 2, 2022
No need to ramp up borrowings — Diokno

No need to ramp up borrowings — Diokno

July 26, 2022
Philippines ranks 30th in Global Business Complexity Index

Philippines ranks 30th in Global Business Complexity Index

July 6, 2022
Biggest business groups unite in call to take the ‘wait off’ SMEs

Biggest business groups unite in call to take the ‘wait off’ SMEs

June 7, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.