Ongpin: CA freeze order unjustified
By Daxim L. LucasThe lawyer of business tycoon Roberto Ongpin on Saturday said the Court of Appeals’ order freezing Ongpin’s bank accounts is “totally without basis and completely unjustified.”
The lawyer of business tycoon Roberto Ongpin on Saturday said the Court of Appeals’ order freezing Ongpin’s bank accounts is “totally without basis and completely unjustified.”
The camp of businessman Roberto Ongpin on Sunday urged Senator Sergio Osmeña III to “review his arithmetic” after the latter reopened the Senate hearings on the allegedly anomalous transactions between the trade minister of then strongman Ferdinand Marcos and Development Bank of the Philippines (DBP).
The widow of lawyer Benjamin Pinpin has cleared the current officials of state-owned Development Bank of the Philippines of allegations that they drove the former DBP lawyer into committing suicide, Senator Sergio Osmeña III said Tuesday.
Senator Sergio Osmeña III on Tuesday tightened the noose around a former Development Bank of the Philippines (DBP) president, accusing him of manipulating share prices in preparation for a deal for the purchase of Philex Mining Corp. shares by businessman Manuel V. Pangilinan in 2009.
The personal secretary of Roberto Ongpin reportedly admitted before senators during a closed-door session Monday that she owned “practically 50 percent” of the businessman’s corporations, at least on paper.
A lawyer of former Trade Minister Roberto V. Ongpin refuted on Wednesday allegations of insider trading that cropped out in relation to the Senate probe of transactions conducted by the state-owned Development Bank of the Philippines (DBP) during the Arroyo administration.
A letter from the Securities and Exchange Commission (SEC) detailed the circumstances that could prove that businessman Roberto “Bobby” Ongpin might have engaged in insider trading when he bought Philex Mining shares, a few days before he sold a big block of Philex shares to tycoon Manuel Pangilinan at an agreed price.
Senators on Tuesday castigated government banking and finance officials over an alleged $225-million overprice in the purchase of shares that allowed the government to gain control of Metro Rail Transit Corp. (MRTC), which built the mass rail system along Edsa.
Senator Sergio Osmeña III on Monday threatened to jail Josephine Manalo, the personal secretary of businessman Roberto Ongpin, for her continuous refusal to appear at the Senate hearings to explain her role in Ongpin’s various companies.
Finally appearing before a Senate committee looking into the loans he obtained from Development Bank of the Philippines (DBP), businessman Roberto Ongpin on Monday said he did not obtain behest loans from the state-owned bank based on a memorandum issued by former President Fidel Ramos in 1992.
Benjamin Pinpin—the mid-level lawyer at Development Bank of the Philippines (DBP) who committed suicide in August—was driven to depression after he received successive letters from the bank’s board of directors threatening imminent legal action for his role in a purportedly anomalous loan to businessman Roberto Ongpin.
Roberto Ongpin denied that he owned the company which was allegedly granted a $90-million loan (P3.8 billion) by the Development Bank of the Philippines even without a loan application and a license to do business in the country.
Businessman Roberto Ongpin on Monday faced a Senate inquiry for the first time to answer allegations that he was granted behest loans by the state-owned Development Bank of the Philippines (DBP).
