Calata officials guilty of manipulating market

By Earl John Alfaro

Jun 05, 2024 12:28 am

OFFICERS of delisted company Calata Corp. have been found guilty of market manipulation for making misleading and exaggerated statements about a resort and casino project.

Branch 148 of the Makati City Regional Trial Court, in a decision issued May 28, found Calata chairman, president and CEO Joseph Calata and corporate secretary, compliance officer and corporate information officer Jose Marie Fabella guilty beyond reasonable doubt of two counts of violation of Section 24(d) of the Securities Regulation Code (SRC).

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