Former Foreign Affairs secretary Perfecto Yasay Jr. was arrested by Manila policemen on Thursday on violation of bank laws charges. He refused to post bail.
Operatives of the Manila Police District led by Lt. Glenzor Vallejo served the arrest warrant at Yasay’s residence in Makati City.
Yasay, 73, underwent booking procedures.
His arrest was ordered by Judge Danilo Leyva of the City of Manila’s Regional Trial Court Branch 10. The arrest warrant was issued in March.
Yasay was accused of violating the provisions of Republic Act 8791 or the “General Banking Law” and Republic Act 7653 or the New Central Bank Act.
The complaint alleged that between 2001 and 2009 Yasay, together with five officers of Banco Filipino Savings and Mortgage Bank, conspired “in securing from the Banco Filipino a loan/credit in accommodation” worth P350,000 for Tierrasud Inc. partly secured by real properties owned by Tropical Land Corp.
Yasay said he joined the bank only in 2009.
“I am not posting bail until I am brought before the judge where I will question this abuse of process and travesty of justice,” Yasay said in a Facebook post.
“Please include me in your prayers for my deliverance,” he added.