This case has been cited 1 times or more.
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2005-12-16 |
CHICO-NAZARIO, J. |
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| True, the powers to increase capitalization and to offer or give collateral to secure indebtedness are lodged with the corporation's board of directors. However, this does not mean that the officers of the corporation other than the board of directors cannot be made criminally liable for their criminal acts if it can be proven that they participated therein.[23] In the instant case, there is evidence that petitioner participated in the loan transactions when he signed the undertaking. As correctly pointed out by the Sandiganbayan:[24] | |||||