The Sandiganbayan on Wednesday issued a hold departure order (HDO) against Senator Sherwin Gatchalian, Surigao del Sur Rep. Prospero Pichay and several others charged in connection with the alleged anomalous purchase by the Local Water Utilities Administration (LWUA) of a losing thrift bank owned by the Gatchalians.
Pichay was the chairman of LWUA when the deal to purchase Express Savings Bank Inc. for P80 million was finalized. He was charged with three counts of graft, three counts of malversation, one count of violation of Republic Act 8791 and one count of violation of the Manual of Regulation for Banks (MORB).
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