(Video) Erap convicted of plunder; Philippine stocks surge

Former Philippine President Joseph "Erap" Estrada has been found guilty beyond reasonable doubt of plunder by the Sandiganbayan anti-graft court and has been sentenced to life imprisonment.

The perjury case against Estrada was dismissed.

From the Philippine Daily Inquirer:

Former president Joseph Estrada has been found guilty beyond reasonable doubt of plunder by the Sandiganbayan anti-graft court and has been sentenced to life imprisonment.

But Estrada son, Senator Jose “Jinggoy” Estrada, and lawyer Eduardo Serapio, were acquitted by Sandiganbayan in its ruling issued Wednesday that capped a six-year trial for the former leader who was ousted in a popular revolt in 2001.

The perjury case against Estrada however was dismissed.

The court said it would allow Estrada to stay at his resthouse in Tanay, Rizal “until further orders.”

After the verdict was handed down, the Philippine stock market rallied and closed 1.2% higher at 3,307.60.

 

Read more to view a video of the Court decision convicting Erap of plunder.

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Below is a YouTube video of a Sandiganbayan clerk reading the decision that found former President Joseph Estrada guilty of the crime of plunder and not guilty of perjury charges:

 

Video grab from GMANews.tv.

Join the discussion in the following related Forum threads:

• Decision ng Erap Plunder Case, malaki ba ang epekto sa Stock Market?
• Erap Estrada: Guilty or Not Guilty?

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