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Ex-Tidcorp execs cleared of P1.8-B graft rap
The Philippine Star
|December 27, 2024
The Sandiganbayan has acquitted two former officials of the state firm Trade Investment Development Corp. (Tidcorp) of a graft case stemming from the grant of a P1.8-billion loan to an allegedly unqualified private company in 2003.
In a 106-page decision promulgated on Dec. 10, the court's Sixth Division acquitted former Tidcorp executive vice president Rolando Alonzo and former account officer Teresita Cometa of violation of Section 3(e) of Republic Act 3019 or the Anti-Graft and Corrupt Practices Act.
Also acquitted of the same case were private respondents Renato Ang and Alison Sy, officers and stockholders of World Granary Inc. (WGI).
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