Reading Time: 1 minute

Former Foreign Affairs Sec. Perfect Yasay Jr. was released from police custody on Friday shortly after posting a total of P244,000 bail in court to secure temporary liberty pending the resolution of charges filed against him.

Yasay was arrested by authorities from Manila Police District yesterday for allegedly violating General Banking Law and New Central Ban Act. He was accused of conspiring with his officials from Banco Filipino Savings and Mortgage Bank in an anomalous bank loan.

The police said the alleged crime happened between 2001-2009.

In 2011, the Bangko Sentral ng Pilipinas (BSP) filed charges against Yasay and nine other due to “falsification, grant of illegal loans, and major violations of banking laws, rules and regulations.”

However, Yasay condemned the allegations against him and said that he is innocent. He clarified that the crimes were committed in 2003 to 2006, but he became the director of the bank in 2009.

Hours after his arrest, he was rushed to Manila Doctors Hospital due to chest pains and high blood pressure. Yasay will still remain confined at the hospital to undergo more tests.

Cecil Yasay, wife of the former top diplomat, confirmed that they already filed a motion for reconsideration. Her husband is also ordered too appear at the arraignment and pre-trial on September 20.

In an exclusive interview of Bombo Radyo, Yasay reiterated that the crime to secure from the bank a loan accommodation worth P350 million for Tierrasud, Incorporated were committed by the previous officials of Banco Filipino.

He also wanted to know the reason why the court decided to continue his arrest despite all the evidences that shows he has no connection with the said violations.

(With reports from: Bombo Christian Yosores)