Try GOLD - Free
Plunder, other raps filed vs Recto, Ledesma over PhilHealth fund transfer
Business World Philippines
|December 23, 2025
A MULTISECTORAL group on Monday filed technical malversation, plunder, and grave misconduct complaints against Executive Secretary Ralph G. Recto and former Philippine Health Insurance Corp. (PhilHealth) President Emmanuel R. Ledesma, Jr. over the 2024 transfer of P60 billion in reserve funds.
-
The complaint-affidavit was lodged before the Office of the Ombudsman by the Save the Philippines Coalition, which accused Mr. Recto, as former Finance secretary, and Mr. Ledesma, former PhilHealth chief, of violating laws governing PhilHealth funds, while noting that the Supreme Court’s ruling declaring the transfer illegal did not impose criminal or administrative liability on Mr. Recto.
"Only the National Prosecution Service or the Office of the Ombudsman can determine whether there is probable cause to hold a person liable for a crime," Irene Ann C. Caballes, one of the petitioners told reporters.
This story is from the December 23, 2025 edition of Business World Philippines.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business World Philippines
Business World Philippines
Gov’t increases T-bill award as yields go down
THE GOVERNMENT upsized the volume of Treasury bills (T-bills) it awarded on Monday as it took advantage of strong market appetite that pushed yields down across all tenors.
3 mins
January 13, 2026
Business World Philippines
Masterplanned golf course communities: Landscapes of play, stewardship, and community
GOLF is a sport on which the sun never sets.
5 mins
January 13, 2026
Business World Philippines
Australian parliament to return to pass hate speech laws after Bondi attack
Australia’s national parliament will cut short its summer break to pass laws tackling hate speech after the Bondi Beach mass shooting, Prime Minister Anthony Albanese said on Monday, as concerns were also expressed over free speech.
1 min
January 13, 2026
Business World Philippines
E-vehicle industry seeks restoration of funding for CARS, RACE programs
THE Electric Vehicle Association of the Philippines (EVAP) urged the government to restore the vetoed funding for automotive industry incentive programs, citing the role of the broader automotive manufacturing industry in the success of electric vehicles (EV).
1 mins
January 13, 2026
Business World Philippines
Majority of Filipinos still hopeful, but doubt growing on flood scam justice
FEWER Filipinos have expressed confidence that officials implicated in the multibillion-peso flood control scandal will be punished, according to a December survey by Pulse Asia Research, Inc, reflecting growing public skepticism over the government's handling of one of the country’s biggest corruption controversies.
3 mins
January 13, 2026
Business World Philippines
‘Tiis ganda no more?’ Filipinos’ digital patience may wane over time
FILIPINOS have the second-highest level of digital patience among seven Asia-Pacific countries, but this could shorten over time as more brands compete in the digital space, according to a US-based customer engagement platform Twilio.
3 mins
January 13, 2026
Business World Philippines
LPG refilling-plant standards set for updating
THE Department of Energy (DoE) is seeking comment on the proposal to update the Philippine National Standard (PNS) for liquefied petroleum gas (LPG) refilling plants, citing the need to stay compliant with national regulations, international codes, and industry practices.
1 min
January 13, 2026
Business World Philippines
Systemic shocks call for better credit access, targeted support
PHILIPPINE COMPANIES need targeted liquidity support, wage subsidies and better credit access to cushion the negative impacts of global shocks such as the coronavirus pandemic, a study showed, with some firms yet to fully recover years after the crisis.
2 mins
January 13, 2026
Business World Philippines
Aboitiz Foods acquires Singapore animal nutrition company
ABOITIZ EQUITY Ventures, Inc. said its food unit, through subsidiary Gold Coin Management Holdings Pte. Ltd. (GCMH), has completed the acquisition of Singapore-based Diasham Resources Pte. Ltd., expanding its specialty animal nutrition portfolio and manufacturing footprint in Asia.
1 min
January 13, 2026
Business World Philippines
Creamline will be back with a vengeance - Pons
CREAMLINE returnee Bernadeth Pons is one that speaks softly but carries a big stick.
1 min
January 13, 2026
Listen
Translate
Change font size