Yasay stands by testimony vs Erap despite apology for role in EDSA Dos

Former Securities and Exchange Commission chair Perfecto Yasay on Thursday said he did not recant his testimonies against former President Joseph Estrada despite apologizing for his role in the former Philippine leader’s ouster in 2001. "I did not retract that. I believe that even if I did something right, I owe the person I hurt an apology," Yasay told anchor Mike Enriquez in radio dzBB’s Ikaw Na Ba? The Vice Presidential Interview. "I told the president that even as I believe that what I did was right and I was performing my duties as a public servant, I was apologizing because I hurt his feelings," he added in a separate interview later with GMANews.TV and GMA News. Yasay is seeking the vice presidency in the May polls under the Bangon Pilipinas banner of standard bearer Bro. Eddie Villanueva. At the 25th founding of the Kingdom of Jesus Christ in Davao City last February, Yasay was reported to have extended his apologies to Estrada and said he was naïve for letting "some elements" use him to remove the deposed leader from power. While Yasay did not identify who those elements were, he insisted "Estrada was a victim of power grab." Asked why his apology was almost a decade late, Yasay said he had no opportunities to tell Estrada he was sorry. "I carried that burden for almost 10 years. If I hurt you, it’s important that I owe you an apology because you’re the same son of God. We have to segregate the sin from the sinner," Yasay said. The former president had earlier said he felt "vindicated" by Yasay’s apology, even if the latter had insisted that saying sorry to Estrada should not mean he [Yasay] was condoning what he [Estrada] did. Estrada was forced to step down in January 2001 following the military and police's withdrawal of support from him. The uprising at EDSA, which was referred to as EDSA Dos, installed then Vice President Gloria Macapagal-Arroyo to th presidency. BW Resources’ price-fixing scam In Estrada’s impeachment trial, Yasay took the witness stand and testified about Estrada’s alleged involvement in the biggest stock market scandal in 1999 orchestrated by businessman Dante Tan, a perceived Estrada crony. [Read about the BW scam here and details of the impeachment trial here.] The SEC and the Philippine Stock Exchange investigated the supposed manipulation in BW’s share prices, where it was revealed Tan’s heavy-share buying and selling of his shares to friends and clients at discounted rates. Yasay said Estrada called him to clear Tan of any involvement in the scandal. But Estrada — whose son Jose Victor “JV" Ejercito became the biggest shareholder of BW Resources affiliate, Best World Construction Corp. — denied asking the SEC to exonerate Tan and interfering with the commission’s investigation. During the impeachment trial, former Finance Secretary Edgardo Espiritu also claimed that Estrada owned BW Resources shares and profited from selling them when the share price ballooned. Espiritu also testified that Estrada himself told him that the latter raked in profits from the shares. The PLDT-Metro Pacific deal The impeachment trail likewise revealed Estrada’s supposed use of presidential discretion to facilitate corporate mergers, specifically his alleged influence over the deal between Metro Pacific Co. and the Philippine Long Distance Telephone Company (PLDT). Yasay testified on how Estrada pressured the Yuchengco-led Philippine Telecommunications Investment Corp. and sided with Metro Pacific for it to have control over PLDT. Yasay testified before the impeachment court that Estrada received a US$20-million kickback to facilitate the transaction, which was denied by Estrada's camp. Following Yasay’s testimony, the Senate summoned PLDT president and chief executive officer Manuel Pangilinan to testify in the impeachment court to shed light on Estrada’s alleged involvement in the said transaction. Pangilinan’s testimony, however, did not materialize after Estrada's allies at the Senate refused to open a second envelope containing bank accounts during the impeachment proceedings. This triggered the five-day EDSA uprising that led to Estrada’s ouster. In September 2009, Yasay revealed that Estrada received a P2-billion kickback from the allegedly anomalous deal, which was disclosed by Sen. Panfilo Lacson through a privilege speech. Yasay also said Estrada used his influence so that the sequestered shares of PLDT would be sold to Metro Pacific. Estrada and the PLDT have repeatedly denied Lacson and Yasay’s allegations. [See: Justice secretary links BW scam to Dacer slay] — RSJ, GMANews.TV