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Thursday, March 06, 2003
DOJ claims Tan to get 100-year jail term
JUSTICE officials Wednesday insisted that it is bent on prosecuting businessman Dante Tan, a key ally of former President Joseph Estrada, for alleged stock market fraud.
In a statement, Department of Justice (DOJ) undersecretary Manuel A.J Teehankee said Tan, may face up to 147 years of imprisonment if convicted
Justice undersecretary Manuel Teehankee said that while the DOJ dismissed the third batch of complaint against Tan and several others, Tan is still facing a total of seven criminal cases for various violations of the Revised Securities Act of 1982.
If convicted, Teehankee said Tan will be meted a jail term from 49 up to 147 years.
The seven cases, based on two reports of the SEC, are undergoing trial before two branches of the Pasig City Regional Trial Court.
Tan y fled to Canada at the height of Edsa Dos on January 2001 that led to the ouster of president Estrada.
Assistant Chief State Prosecutor Nilo Mariano, head of the 7-man panel that investigated the BW stock scam, has admitted on Tuesday that they still have no information on Tan's whereabouts.
Apart from Tan, eleven others are facing charges before the Pasig court for various roles they allegedly played in the BW stock scam, which nearly caused the collapse of the Philippine Stock Exchange.
Tan's co-accused include Raul de Castro, Eduardo Lim, Jr., Hermogenes Laddaran, Jimmy Juan, Mario Juan, Eduardo Co, Francisco Liboro, Federico Galang, Robinson Siao, Johnny Yap, and Reynaldo Madrilejo.
(March 6, 2003 issue)
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