Yasay out of detention after posting P240k bail

/ 01:29 PM August 23, 2019

MANILA, Philippines — Former Foreign Affairs Secretary Perfecto Yasay Jr. has been released from police custody after posting P240,000 bail.

Manila Regional Trial Court Branch 10 ordered Yasay’s arrest on March 8 over charges in violation of Republic Act 8791 or the General Banking Law and Republic Act 7653 or the New Central Bank Act.


He is accused of conspiring with other officials of the Banco Filipino Savings and Mortgages Bank in granting an allegedly questionable P350-million loan to Tierrasud Incorporated. His bail was set at P60,000 for each of his four cases. Yasay had served as director of Banco Filipino.

Based on the police’s case information, Yasay and his co-accused supposedly did not inform the Bangko Sentral ng Pilipinas (BSP) that Tierrasud Incorporated was granted the loan. It also said that the alleged crime “was committed sometime between 2001 and 2009, while Yasay joined the bank in 2009.”


But Yasay denied involvement in the controversy, saying the alleged crime “happened in between 2003 to 2006, and not between 2001 and 2009.”

On Thursday, members of the Manila Police District-Criminal Investigation and Detection Unit arrested Yasay in his Makati residence after BSP representatives sought their assistance in the implementation of the arrest order.

READ: Ex-DFA chief Yasay arrested for allegedly violating banking laws

Hours after his arrest, Yasay was rushed to a hospital as his blood pressure shot up while complaining of pain in his chest.

READ: Ex-DFA chief Yasay rushed to hospital hours after arrest


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TAGS: Banco Filipino, Department of Foreign Affairs, DFA, Local news, Manila Police District, Metro, metro news, news, Philippine news updates, Secretary Perfecto Yasay Jr.
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