Former Foreign Affairs Secretary Perfecto Yasay Jr. was arrested Thursday afternoon after a Manila court issued a warrant for alleged violation of the country’s banking laws.
Yasay, who refused to post bail as of press time, was ordered arrested by Judge Danilo Leyva, presiding judge of Manila Regional Trial Court Branch 10 for criminal charges allegedly committed by officials of Banco Filipino from 2003 to 2006.
But Yasay said he joined the bank in 2009.
He is accused of violating Republic Acts 8791 and 7653 or the General Banking Law and the New Central Bank Act, for his involvement in an anomalous loan from Banco Filipino Savings and Mortgages Bank.
President Rodrigo Duterte named Yasay as DFA secretary in 2016 but the Commission on Appointments rejected his nomination after he lied about his American citizenship.
In his Facebook account, Yasay said he won’t post bail until he is “brought before the judge” where he will question “this abuse of process and travesty of justice.”
