Senate body can’t decide yet on PnM complaint

The Senate committee on ethics, headed by Sen. Francis Pangilinan, agreed yesterday to gather more information before it could properly evaluate the complaint against Sen. Renato Cayetano who allegedly made about P40 million in the trading of the controversial Best World Resources’ stocks.

"We cannot decide yet whether we should investigate Sen. Cayetano or not. We need more information," Pangilinan said.

Lawyer Crispin Remulla, spokesman of the Puwersa ng Masa, filed last month a complaint against Cayetano with the ethics committee, alleging that Cayetano committed some improprieties in the trading of BW stocks.

Cayetano said he would fully cooperate wit the committee, even as he described Remulla’s complaint as politically motivated.

He said Remulla is closely identified with former President Joseph Estrada and that the Estrada camp is still sore at him for his active role in the impeachment trial of the deposed President.

Cayetano recalled that during the investigation of the BW scandal, Ruben Almadro, head of the internal affairs division of the Philippine Stock Exchange, cleared his investments in BW Resources.

"Almadro said my BW transactions were above board," he said.

Earlier, Sen. Juan Flavier, former chairman of the ethics committee, said Cayetano should even be commended for divulging his investments during the BW investigation by the Senate committee on banks headed by then Sen. Raul Roco.

Cayetano inhibited himself from the Senate investigation after baring his investments.