Court rejects plea to prosecute BSP chief

The Supreme Court in the Philippines has denied "with finality" a petition to prosecute central bank governor Rafael Buenaventura and several central bank officials for the closure of medium-sized Urban Bank in 2000.

The decision was made by the high court's third division which dismissed the criminal charges filed by Urban Bank president Teodoro Borlongan, saying Borlongan's motion for reconsideration merely reiterated his previous arguments.

"Accordingly, the Court resolved to deny the motion

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