THE value of shares in the Philippines' second-largest bank fell Friday after it was hit by fraud, which reports said may amount to nearly $50 million.
The Philippine Daily Inquirer quoted unnamed bank officials as saying one of Metropolitan Bank and Trust Co.'s vice presidents has been arrested for diverting between 900 million and 2.5 billion pesos (between $7.7 and 49.3 million) in bank funds.
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