THE board of Vallacar Transit Inc. (VTI), the country’s largest bus transport company that operates Ceres Liner and Sugbo Transit, took a firm stand that its former chief financial officer was liable for the missing P380 million during her watch.

“It is not true that SGV cleared Celina Yanson-Lopez of any liability on the P380-million stolen fund mess,” the VTI’s legal team said in a statement.