Must Watch
JANET NAPOLES. Businesswoman Janet Lim Napoles arrives at the Sandiganbayan for the promulgation of the P172-million plunder case filed against her, in connection with the pork barrel scam, on October 4, 2024.JANET NAPOLES. Businesswoman Janet Lim Napoles arrives at the Sandiganbayan for the promulgation of the P172-million plunder case filed against her, in connection with the pork barrel scam, on October 4, 2024.
Napoles sentenced to 2 more reclusion perpetua; 5 co-accused convicted
MANILA, Philippines – The Sandiganbayan has found businesswoman Janet Lim Napoles guilty in another pork barrel case and sentenced her to two more terms of reclusion perpetua. The anti-graft court also convicted five others linked to the scheme.
In a 165-page ruling on Friday, December 5, the anti-graft court’s 3rd Division found them to have conspired with a congressman to divert more than P40 million in Priority Development Assistance Fund allocations to fake projects run by Napoles-linked foundations.
Benguet representative Samuel Dangwa, who was charged in the case, died in 2019, leading to the dismissal of charges against him. The trial continued against his co-accused.
National Livelihood Development Corporation president Gondelina Amata was sentenced to reclusion perpetua for malversation and six years for graft.
Former Technology Resource Center deputy director general Dennis Cunanan received one term for malversation, plus 12 years for malversation and 18 years for graft.
Former TRC group manager Ma. Rosalinda Lacsamana was sentenced to 10 years for malversation and six years for graft.
Mylene Encarnacion, president of the Countrywide Agri and Rural Economic Development Foundation, was sentenced to reclusion perpetua, two years for malversation and 12 years for graft.
Congressional staff member Erwin Dangwa received 10 years for malversation and six years for graft.
The Sandiganbayan, in the decision penned by Associate Justice Ronald Moreno, with Associate Justices Edgardo Caldona and Arthur Malabaguio concurring, convicted Napoles of six counts of malversation of public funds and six counts of violating the Anti-Graft and Corrupt Practices Act.
The court cited key testimony from whistleblower Benhur Luy, auditor Agnes Alfafaras, and Anti-Money Laundering Council deputy director Alvin Bermido, who traced the transactions and helped investigators follow the money trail.
Napoles received reclusion perpetua for two malversation charges involving P10 million and P9 million, exceeding the P8.8-million threshold for the maximum penalty. She was sentenced to 10 to 17 years for four other malversation cases.
For the six graft charges, she was sentenced to six to 10 years for each count.
The court also imposed fines of up to P44 million for the malversation cases and ordered her to pay the same amount to the Bureau of the Treasury as civil liability, with 6% interest from the finality of the decision.
The court gave full credence to Luy’s testimony, saying that there was no evidence that whistleblower Benhur Luy acted with improper motives or that Napoles had accused him of wrongdoing.
The Sandiganbayan said testimony from Bermido showed that bank transactions matched the payouts recorded in Luy’s ledger and credited to the accused’s accounts.
It noted that such fund movements took place during the same period when commission payments were reportedly given to the congressman and while a Special Allotment Release Order (SARO) was being processed.
A SARO is a document issued by the Department of Budget and Management that authorizes a government agency to receive and spend funds for a specific project.
“Taken together, these facts point to a clear conclusion: the funds intended for legitimate agricultural programs were diverted for kickbacks. Therefore, it is clear that these funds were misappropriated as kickbacks, rather than being used for their intended purpose,” read part of the ruling. – Rappler.com
Market Opportunity
Moonveil Price(MORE)
$0.001942
$0.001942$0.001942
USD
Moonveil (MORE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
The rise of the AI orchestrators
While the use of artificial intelligence (AI) in the workplace has nearly doubled over the last two years, its best days undoubtedly still lie ahead. No longer
Share
AI Journal2026/01/22 20:47
Breaking: CME Group Unveils Solana and XRP Options
CME Group launches Solana and XRP options, expanding crypto offerings. SEC delays Solana and XRP ETF approvals, market awaits clarity. Strong institutional demand drives CME’s launch of crypto options contracts. In a bold move to broaden its cryptocurrency offerings, CME Group has officially launched options on Solana (SOL) and XRP futures. Available since October 13, 2025, these options will allow traders to hedge and manage exposure to two of the most widely traded digital assets in the market. The new contracts come in both full-size and micro-size formats, with expiration options available daily, monthly, and quarterly, providing flexibility for a diverse range of market participants. This expansion aligns with the rising demand for innovative products in the crypto space. Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, noted that the new options offer increased flexibility for traders, from institutions to active individual investors. The growing liquidity in Solana and XRP futures has made the introduction of these options a timely move to meet the needs of an expanding market. Also Read: Vitalik Buterin Reveals Ethereum’s Bold Plan to Stay Quantum-Secure and Simple! Rapid Growth in Solana and XRP Futures Trading CME Group’s decision to roll out options on Solana and XRP futures follows the substantial growth in these futures products. Since the launch of Solana futures in March 2025, more than 540,000 contracts, totaling $22.3 billion in notional value, have been traded. In August 2025, Solana futures set new records, with an average daily volume (ADV) of 9,000 contracts valued at $437.4 million. The average daily open interest (ADOI) hit 12,500 contracts, worth $895 million. Similarly, XRP futures, which launched in May 2025, have seen significant adoption, with over 370,000 contracts traded, totaling $16.2 billion. XRP futures also set records in August 2025, with an ADV of 6,600 contracts valued at $385 million and a record ADOI of 9,300 contracts, worth $942 million. Institutional Demand for Advanced Hedging Tools CME Group’s expansion into options is a direct response to growing institutional interest in sophisticated cryptocurrency products. Roman Makarov from Cumberland Options Trading at DRW highlighted the market demand for more varied crypto products, enabling more advanced risk management strategies. Joshua Lim from FalconX also noted that the new options products meet the increasing need for institutional hedging tools for assets like Solana and XRP, further cementing their role in the digital asset space. The launch of options on Solana and XRP futures marks another step toward the maturation of the cryptocurrency market, providing a broader range of tools for managing digital asset exposure. SEC’s Delay on Solana and XRP ETF Approvals While CME Group expands its offerings, the broader market is also watching the progress of Solana and XRP exchange-traded funds (ETFs). The U.S. Securities and Exchange Commission (SEC) has delayed its decisions on multiple crypto-related ETF filings, including those for Solana and XRP. Despite the delay, analysts anticipate approval may be on the horizon. This week, REX Shares and Osprey Funds are expected to launch an XRP ETF that will hold XRP directly and allocate at least 40% of its assets to other XRP-related ETFs. Despite the delays, some analysts believe that approval could come soon, fueling further interest in these assets. The delay by the SEC has left many crypto investors awaiting clarity, but approval of these ETFs could fuel further momentum in the Solana and XRP futures markets. Also Read: Tether CEO Breaks Silence on $117,000 Bitcoin Price – Market Reacts! The post Breaking: CME Group Unveils Solana and XRP Options appeared first on 36Crypto.
Share
Coinstats2025/09/18 02:35
Why Is Crypto Up Today? – January 22, 2026
The crypto market is up today after several days of a downward trajectory. The cryptocurrency market capitalisation increased by 1.5% over the past 24 hours to $
Share
CryptoNews2026/01/22 20:22