Raps lowered vs Pichay, Gatchalians
The Sandiganbayan has reduced the charges against lawmakers Prospero Pichay Jr. (Surigao del Sur) and Wesley Gatchalian (Valenzuela City), among others, linked to the controversial buyout of an insolvent thrift bank by the Local Water Utilities Administration (LWUA) in 2009.
The antigraft court dismissed charges of malversation and violation of the general banking law against Pichay and other former LWUA executives, as well as the Gatchalians, former owners of the bank in question, but sustained the finding of probable cause to continue the trial for graft against almost all the accused.
Spared
Spared from trial were LWUA board members Eduardo Bangayan, Aurelio Puentevella and the late Daniel Landingin who, the court noted, did not actively participate in the board’s actions.
The name of Sen. Sherwin Gatchalian also did not appear in the ruling although the reason was not given.
The case arose from LWUA’s alleged misuse of P780 million for the purchase of a 60 percent majority stake in Laguna-based Express Savings Bank Inc., jointly owned by Forum Pacific Inc., and the Gatchalian family’s Wellex Group Inc. Pichay headed the LWUA. —VINCE F. NONATO
