Former Foreign Affairs Secretary Perfecto Yasay Jr. posted P240,000 bail but now confined at a nearby hospital after complaining of chest pains following his arrest Thursday afternoon for violating banking laws he allegedly committed between 2001 to 2009.
Members of the Manila Police District served a warrant of arrest against Yasay issued by the Manila Regional Trial Court Branch 10 for the four counts for conspiring with five other associates of the Banco Filipino Savings and Mortgages Bank from 2001 to 2009, to secure a P350-million loan for a certain Tierrasud Incorporated.
However, Yasay, who also served as chairman of the Securities and Exchange Commission under former President Joseph Estrada, denied the accusations, and vowed to fight for justice and to prove his innocence.
In his Facebook post on Thursday, Yasay said he would not post bail until he was brought to the judge to question “this abuse of process and travesty of justice.”
Yasay was rushed to the Manila Doctors Hospital after he complained of chest pains while in detention.
Manila Regional Trial Court Branch 10 Judge Danilo Leyva directed Yasay to appear for the arraignment and pre-trial on Sept. 20 at around 8:30 a.m.
The former Foreign Affairs chief was charged for violating Republic Act 8791, otherwise known as the General Banking Law; and Republic Act 7653, otherwise known as the New Central Bank Act.
But Yasay denied the allegations, explaining that the transaction occurred from 2003 to 2006, while he only joined the bank in 2009.
“I am a high profile, former public official who can pull strings, who can use his influence and power to fight… But I have not done that. I wanted to face and show to the people that under President Duterte, talagang everybody stands fair and square under the law,” he said.
The Bangko Sentral ng Pilipinas (BSP), meanwhile, said the Warrant of Arrest against Yasay is a consequence of the filing of criminal information by the Department of Justice before the court, saying a judge issued the said warrant pursuant to the provisions of the Rules of Court.
“The Bangko Sentral ng Pilipinas will not issue any comment as the matter is pending before court and to do so would violate sub judice rule,” it said.
Yasay was arrested Thursday afternoon after a Manila court issued a warrant for alleged violation of the country’s banking laws
Yasay was ordered arrested by Judge Danilo Leyva, presiding judge of Manila Regional Trial Court Branch 10 for criminal charges allegedly committed by officials of Banco Filipino from 2003 to 2006.
But Yasay said he joined the bank in 2009.
He is accused of violating Republic Acts 8791 and 7653 or the General Banking Law and the New Central Bank Act, for his involvement in an anomalous loan from Banco Filipino Savings and Mortgages Bank.
President Rodrigo Duterte named Yasay as DFA secretary in 2016 but the Commission on Appointments rejected his nomination after he lied about his American citizenship.