Capitol exec: No malversation of public funds

FORMER Sports Commissioner Eric Loretizo, currently an executive assistant of Negros Occidental Governor Alfredo Marañon Jr., said Monday, June 12, that there was no malversation of public funds in his alleged unliquidated expenses with the Philippine Sports Commission (PSC) amounting to P2.8 million.

He is facing 38 counts of charges, including seven counts of failure to render accounts and 31 counts of malversation of public funds, before the Sandiganbayan, according to the report of GMA News Online.

The amount covered the cash advances for his travel and other expenses from 2006 to 2011 when he was still a PSC commissioner, the report said.
Loretizo said he has yet to receive a copy of the resolution.

He reiterated there was no malversation of public funds, adding that his office only failed to liquidate the expenses.

Loretizo said that all of the money was spent for the official events initiated by his office at that time.

A total of P1.2-million bail – P6,000 for each count of the failure to render accounts and P40,000 for each count of malversation of public funds – was set for Loretizo’s provisional liberty, the report said. (MPE)
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