Former Foreign Secretary Perfecto Yasay Jr. on Friday posted a P240,000 bail for his provisional liberty after being arrested for his alleged involvement in various banking law violations.
In a brief Facebook post after posting bail at Manila Regional Trial Court Branch 10 Judge Daniel Leyva鈥檚 sala, the 72-year-old diplomat said he now 鈥渆njoys the status of a provisional free man.鈥�
Coaccused
鈥淣ow the fight for justice and to prove my innocence begins,鈥� he wrote.
Yasay was arrested by Manila police on Thursday evening at his home in Barangay Poblacion, Makati City, on the basis of an arrest warrant issued by Leyva on March 8 against the former top diplomat and six top officials of the now-defunct Banco Filipino Savings and Mortgage Bank.
Yasay鈥檚 coaccused were former Banco Filipino chair Teodoro Arcenas Jr.; vice chair Albert Aguirre; executive vice presidents Francisco Rivera and Maxy Abad; and directors Orlando Samson and Adelaida Adduru-Bowman.
Hospitalized
All are facing charges for violation of Section 36 of Republic Act No. 8791 (restriction on bank exposure) and RA 7653 (violations of orders of the Bangko Sentral ng Pilipinas, or BSP) committed by the officials supposedly between 2003 to 2006.
Among their supposed violations include granting a P350-million loan to Tierrasud Inc., which also owns stock in Banco Filipino, and then failing to report the loan to regulators.
But Yasay said he became part of the bank only in 2009.
Yasay was rushed to Manila Doctors Hospital after suffering from high blood pressure while in detention. He was later cleared by his doctors so he could post bail.
鈥淎t 72 years and a survivor of two cancers, it is not easy to live behind bars specially when you are innocent and a victim of abuse of process,鈥� he wrote in a Facebook post.
While the warrant was issued in March, it was only on Thursday that Manila police were able to finally serve the warrant against Yasay, whose address is listed under Makati.
Supposedly, Makati police failed to serve the warrant earlier as Yasay was not around, police in Manila said.
On Aug. 19, police said, a certain Jonn Irvin Valensuela claiming to be a representative of the BSP sought Manila police鈥檚 help in finally arresting Yasay.