Estrada, Villar and stock market—something in common?
Posted by akosistella on April 25, 2010
MANILA, Philippines – The camp of presidential bet Manuel Villar found it ironic that former President Joseph Estrada has thrown a stock manipulation issue against the Nacionalista bet when the same issue had caused Estrada’s downfall.
On Thursday, Estrada, who is seeking the presidency for the second time this May 2010, joined Sen. Juan Ponce Enrile in blasting Villar for interfering in the fund raising efforts of Vista Land & Lifescapes Inc. through the stock market in 2007. (Read: The inside story of Villar’s visit to PSE)
Enrile, who replaced Villar as Senate President in 2008, showed minutes of the June 29, 2007 meeting of the Philippine Stock Exchange (PSE) board members who were discussing an issue regarding escrowed shares of Vista Land.
Enrile dares Villar to debate on stock allegations
ILIGAN CITY, Philippines – Reelectionist Sen. Juan Ponce Enrile yesterday challenged Nacionalista Party (NP) presidential bet Sen. Manuel Villar Jr. to personally clarify the allegations that he (Villar) used his position as Senate president to twist stock market rules.
Enrile said Villar should answer the allegations himself instead of delegating the task to lawyer Weslen Rosero-Galang.
Enrile noted Villar is trying to avoid answering the allegations that he used his position as Senate president in 2007 to exempt his billions of shares of stocks in Vista Land Lifescapes, Inc. (VLL) from the Philippine Stock Exchange’s (PSE) “lock-up” rules.
via Phil. Star