Monday 23 April 2018
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4 months ago

3 PNB execs to be tried for behest loans

State prosecutors have filed graft charges in the Sandiganbayan against three surviving board members of Philippine National Bank (PNB) for granting roughly P200 million in behest loans to cronies of the Marcos dictatorship 37 years ago. Behest loans are loans that state banks extended to private companies, or guaranteed on their behalf, on orders of former President Ferdinand Marcos. These run into tens of billions of pesos and form part of the public debt that Filipinos are paying. Gerardo Sicat, wh

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