The Makati City Regional Trial Court found the top executives of delisted company Calata Corp. guilty of market manipulation over its botched P65-billion casino project in Cebu, the Securities and Exchange Commission said Tuesday.
Calata Corp. corporate secretary, compliance officer and corporate information officer Jose Marie Fabella was also found guilty of two counts of violation of the same law. Michael Foxman, chief executive of Sino-America Gaming Investment Group LLC, Calata Corp.’s partner for the Mactan Leisure City project, was also charged with the same violations.
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