Bilyonaryo - Business

Monzon: Initial PSE probe on PLDT stock trades shows no signs of fraud

December 21, 2022

Bilyonaryo.com

Philippine Stock Exchange president Ramon Monzon said on Wednesday that there had been no evidence of fraud based on the initial results of its team’s investigation.

Monzon said the probe, which extends back to November showed no indication of any fraudulent trades prior to PLDT’s disclosure of a P48 billion budget overrun.

“The bourse found that a lot of the transactions were institutional, not personal trades, and mostly carried out by foreign brokers,” he said.

Monzon said the PSE would submit its report to the Securities and Exchange Commission within the week.

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