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The Asia Pacific Medical Center-Iloilo is the first of its kind in the whole of Western Visayas and the Panay region, possessing a multi-specialty facility that promises world-class service to its patients at competitive rates.
The last time I checked, regulators have yet to come out with its report on the P48-billion budget overrun of telco giant PLDT, although initial findings say there are no indications of fraudulent transactions.
Published May 24, 2021, 3:53 PM
After more than 20 years, the Securities and Exchange Commission (SEC) has finally secured the conviction of a stock broker involved the manipulation of the price of Best World Resources Corporation (BW) that started in October 1998.
In a statement, the SEC said it has secured a fifth conviction under the Securities Regulation Code (SRC) after a regional trial court ruled that the president of a brokerage manipulated the market in illegal trade transactions involving stocks of then listed firm BW.
In a decision dated May 7, the Pasig City Regional Trial Court Branch 67 found Johnny S. Yap of Solar Securities Inc. guilty beyond reasonable doubt of violation of Section 26(a)(I)(1) of the Revised Securities Act, now Section 24.1(a)(i) of the SRC.
Broker faces 14-years behind bars, P1-M fine for market manipulation
May 24, 2021 | 12:07 am
By
Valmonte
THE Pasig City Regional Trial Court Branch 67 has sentenced broker Johnny S. Yap, former president, sales manager, and director of Solar Securities, Inc., to 14 years of imprisonment and was ordered to pay P1 million for a “reprehensible” market manipulation.
The decision came 22 years after the Securities and Exchange Commission filed a complaint involving the trading of the stocks of the then-listed company Best World Resources Corp. (BW).
“The SEC filed a criminal complaint against Yap, who was then the president, sales manager, and director of Solar Securities, after the brokerage was found to have committed wash sale transactions composed of 142 buy and sell orders for stocks of BW during the months of June and October 1999,” the commission said in a statement.