Insider trading? Big deal
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The Senate raised the possibility the other day that insider trading may have occurred in the sale of some of the prime assets of the government in the Manila Electric Co. and oil refiner Petron Corp., primarily the shares that belonged to state bank Development Bank of the Philippines (DBP) sold to businessman Roberto Ongpin.
The exotic sounding blue-collar crime insider trading was also raised previously and among the most celebrated of these cases supposedly were that of former President Joseph Estrada involving the purchase and sale of BW Resources stocks.
Insider trading, in fact, was among the four cited instances for the plunder conviction of Estrada in 2007.
That case, however, was never proven, either in court or the SEC, although he was convicted, it was evident that the conviction was politically motivated..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20111009com1.html
1 comment
paano kasi moro-moro lang. moro.morong hindi nakakaaliw.
"But neither Lacson nor Guingona or even Sen. Serge Osmeña was able to conclusively establish the connection of Arroyo either in the alleged behest loan or the insider trading charges being tacked to Ongpin."
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