The Sandiganbayan did not allow former Armed Forces of the Philippines (AFP) comptroller and retired Maj. Gen. Carlos F. Garcia to evade the payment of P407.8 million penalty after he pleaded guilty and convicted of lesser offenses instead of plunder and violation of the Money Laundering Act....
The Sandiganbayan has dismissed the complaint filed against two defendants in an ill-gotten wealth case involving the reportedly illegal shares obtained by a private company through alleged disadvantageous contracts. Dismissed through the grant of their demurrer to evidence were the charges against...
The Sandiganbayan has warned that sanctions will be imposed on litigants and lawyers who file repetitive or identical motions in pending cases. The warning was issued as the court denied a similar motion filed by a private individual in the hope that his property be excluded from the...
Johann Garcia, CEO of Era Philippines; Wealth Gillego, Chairman of Era Philippines; Marcus Chu, CEO of APAC Realty and Era Asia Pacific; and Poh Chee Yong, CFO of ERA Asia Pacific APAC Realty, a real estate services provider in Singapore operating under the Era brand, signed a partnership alliance...
The Sandiganbayan has approved the payment of P2.5 million to settle the P9.06 million civil case for forfeiture of alleged unexplained wealth filed against the former director of the Philippine National Police (PNP) in Benguet and members of his family. Former PNP Chief Supt. Eugene Garbriel...
The Maharlika Investment Corporation (MIC) is set to enter an international governing body that will ensure effective operation and strengthen transparency of the state's wealth fund. This following the approval of MIC's proposal to apply for Associate Membership in the International Forum of...
The Securities and Exchange Commission (SEC) has revoked the certificate of authority (CA) of Wealth and Personal Development Lending Inc. to operate as a lending company for its repeated failure to comply with reportorial requirements and alleged involvement in illegal activities. In a statement,...
Ready to join Maharlika Investment Corp. (MIC)? The Bureau of the Treasury is on the hunt for top-notch managers to lead the country’s sovereign wealth fund. According to the advisory on the Treasury website, nominations and applications for the MIC's Board of Directors are now officially open....
A survey conducted by the Social Weather Stations (SWS) revealed that nearly half of Filipinos know almost nothing or nothing at all about the Maharlika Wealth Fund (MWF), also known as the Maharlika Investment Fund. The results of the SWS survey, which was conducted from March 26 to 29, and...
Vision of the MIC: A Philippine economy with world class infrastructures in transport, information technology and communications, renewable energy and large-scale agribusiness ventures. Mission of the MIC: to attract large amounts of Foreign Direct Investment (FDIs) into these sectors. Now,...
Senate Minority Leader Aquilino “Koko” Pimentel III on Thursday, June 8, said that the only viable course of action for Congress to fix some serious errors in the “hastily-approved” Maharlika Investment Fund (MIF) bill is to recall its approval and bring it back to the plenary session for...
The proposed Maharlika Investment Fund (MIF) Act has just been approved by both chambers of Congress and a copy of the enrolled bill will now be sent to Malacañan Palace for President Marcos’ signature. Being a Palace-certified measure, it is expected to be signed into law in a couple of weeks...
