Sandiganbayan acquits housing exec of graft

MANILA, Philippines — Sandiganbayan acquits NHMFC exec The Sandiganbayan Fifth Division has acquitted an official of the National Home Mortgage Finance Corporation (NHMFC) of 32 graft and 32 falsification charges.

Cleared was Celso Fernandez III, manager of the Project Accounts Monitoring and Review Department of the NHMFC, who was previously accused of irregularly approving release of mortgages to the undue advantage of some private individuals.

However, the prosecution said no actual full payment was made.

The antigraft court said the prosecution was unable to prove that Fernandez acted with evident bad faith or gross inexcusable negligence.—Patricia Denise M. Chiu