Raul J. Palabrica , 25 May 2021
Finally, after more than two decades, a trial court has rendered a decision on a scandal that almost caused the collapse of the Philippine stock market in 1999.
The court found Johnny Yap, then president of Solar Securities Inc., a stockbroker, guilty of stock manipulation of the shares of BW Resources Corp., a listed gaming company, and sentenced him to 14 years in prison and to pay a fine of P1 million.
The evidence presented showed that Yap engaged in the sale and purchase of BW stocks 142 times through parties with common owners. Continue reading “Article: No closure yet for BW scandal”
