Ongpin counsel assails introduction of new evidence against himThe legal counsel of businessman Roberto V. Ongpin assailed Thursday the introduction of new evidence against him before the Court of Appeals (CA) on charges of 174 counts of insider trading in connection with the trading of his Philex Mining Corporation shares on Dec. 2, 2009. MB FILE – Roberto Ongpin (Photo courtesy of www.forbes.com) | Manila BulletinOn July 8, 2016 the Securities and Exchange Commission (SEC) imposed a P174-million fine on Ongpin on the insider trading charges. The imposition of the fine was elevated by Ongpin before the CA which issued a 60-day temporary restraining order (TRO). The CA ordered hearings on Ongpin’s petition. If they’re trying to present new evidence, it shows that their evidence in the first place were lacking and did not warrant certainly imposing a fine on Mr. Ongpin of P174 million,” Mendoza said.

Source: Manila Bulletin September 01, 2016 10:30 UTC