Villar jail-bound----Erap By Charlie V. Manalo 04/24/2010

Villar jail-bound----Erap

By Charlie V. Manalo 04/24/2010 BUTUAN CITY — Instead of bagging the much coveted political position in the land, Nacionalista Party presidential bet might be bound for incarceration following revelations made by former President Joseph “Erap” Estrada and Senate President Juan Ponce Enrile the NP standard bearer, Sen. Manuel “Manny” Villar, pressured corporate regulators into allowing him to sell locked-up stocks of his listed holding company, in violation of stock market rules, in 2007, earning billions of pesos in the process. In an interview, Pwersa ng Masang Pilipino (PMP) standard bearer Estrada said he personally believes Villar could be jailed if he is found to have unduly used his powers, then as a Senate President, to influence and pressure the Philippine Stock Exchange (PSE) to bend the lock-up restriction so he could sell his stake in Vista Land and Lifescapes Inc. after it got listed on the bourse. “Yes, he could be jailed for that,” said Estrada. Aside from violating the laws governing stock offerings and listing, Estrada noted that Villar also violated another law by directly lobbying with the PSE board in behalf of his company..... MORE Source:  The Daily Tribune URL: http://www.tribuneonline.org/headlines/20100424hed1.html

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