Push Admin

Pichay pleads not guilty to charges over bank sale anomaly

Article (news)

Adrian Ayalin, ABS-CBN News

MANILA - Surigao del Sur Rep. Prospero Pichay Jr. has pleaded not guilty to charges related to an anomalous banking deal between the Local Water Utilities Administration (LWUI) and Express Savings Bank Inc (ESBI) of the Gatchalian family during his time as the state agency&#x27;s chair.Pichay is facing three counts of violation of Section 3(e) of the Anti-Graft and Corrupt Practices Act and one count of violation of the Manual of Regulation for Banks.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/news/11/20/17/sandiganbayan-junks-bank-sale-case-vs-gatchalians-but-not-pichay">Sandiganbayan junks bank sale case vs Gatchalians, but not Pichay</a></li></ul>The charges against Pichay stemmed from LWUA&#x27;s acquisition of ESBI for P80 million pesos.Investigation conducted by the Office of the Ombudsman showed that the LWUA board headed by Pichay passed a resolution approving the acquisition of ESBI without the necessary approvals from the Monetary Board of the Bangko Sentral ng Pilipinas, the Department of Finance, and the Office of the President.After Pichay&#x27;s arraignment, the anti-graft court scheduled pre-trial on July 23.The cases initially involved Sen. Sherwin Gatchalian, his father William, mother Dee Hua, and brothers Wesley and Kenneth.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/news/10/20/16/sandigan-drops-graft-malversation-case-vs-gatchalian-pichay">Sandigan drops graft, malversation case vs Gatchalian, Pichay</a></li></ul>

Surigao del Sur Rep. Prospero Pichay Jr. has pleaded not guilty to charges related to an anomalous banking deal between the Local Water Utilities Administration and Express Savings Bank Inc. of the Gatchalian family during his time as the state agency's chair.

Surigao del Sur Rep. Prospero Pichay Jr. has pleaded not guilty to charges related to an anomalous banking deal between the Local Water Utilities Administration and Express Savings Bank Inc. of the Gatchalian family during his time as the state agency's chair.

Pichay pleads not guilty to charges over bank sale anomaly

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Sudoku

Word of the Day

Lotto

Horoscope

News

Pichay pleads not guilty to charges over bank sale anomaly

Adrian Ayalin,

ABS-CBN News

Published May 08, 2018 08:22 PM PHT

Read More:

Prospero Pichay Jr.

Sandiganbayan

Gatchalian

graft

Manual of Regulation for Banks

LWUI

Local Water Utilities Administration

Express Savings Bank Inc

ESBI

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

Sign Up

I have read and agree to the Terms and Privacy Policy.

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.