[ap-intact] INFO: Former Philippine gov’t export-import credit execs face graft raps

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Two former officials of the Philippine Export-Import Credit Agency (PhilEXIM) have been indicted for graft after the government incurred losses amounting to P4.2 billion (US$936 million) after the state-owned firm issued a loan guarantee to a private company. The Office of the Ombudsman approved the filing of criminal charges against the two officials for violation of Republic Act No. 3019, or the Anti-Graft and Corrupt Practices Act.

Read the story by Marlon Ramos, in Philippine Daily Inquirer. http://newsinfo.inquirer.net/661507/former-govt-export-import-credit-execs-face-graft-raps

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