Manuel Gaite's Appointment at Securities and Exchange Commission

A Malacañang official is being considered to replace Securities and Exchange Commission (SEC) Commissioner Jesus Enrique Martinez, the alleged protector of the collapsed Legacy Consolidated Plans Inc. (LCPI).

In a press briefing Monday, Deputy Presidential Spokesperson Lorelei Fajardo said Deputy Executive Secretary Manuel Gaite was being considered for his unquestionable integrity and qualification."

Gaite was accused of sending Rodolfo Lozada Jr. abroad last year allegedly to prevent him from testifying on the ZTE broadband anomaly, of which Lozada was a key witness in the Senate investigation. Gaite had denied the accusation.

Fajardo said Gaite's appointment was not yet final since it "is still on the table of the President."

Until we have received the appointment, nothing is final yet, but yes he [Gaite] is being considered," she said.

Senator Manuel Roxas II, meanwhile, scored Gaites pending appointment, saying it only reflected the Arroyo administration's lack of decency and concern for public opinion of its conduct."

"Wala talagang malasakit ang administrasyon sa iniisip ng publiko [This administration does not care what the public thinks]. At this time that the SEC's reputation is crumbling down, President Arroyo has appointed someone whose own credibility is as low as the one he's replacing," Roxas said.

Citing section 4.2 of the Securities Regulation Code on the qualifications for SEC commissioners, Roxas said SEC commissioners "must be of good moral character, of unquestionable integrity, of known probity and patriotism, and with recognized competence."

Roxas alleged that Gaites appointment was a reward for his role to silence Lozada.

But Fajardo denied Roxas' claim, saying Gaite did not try to silence Lozada but just expressed his generosity and charity" to him.

On his connection with Jun Lozada I think a lot of people who know him know him to be religious and generous, and that [the] generosity and charity that he did to Jun Lozada is understandable. So that should not be connected in anyway to his appointment now because he is very much qualified, he is a career public servant as well, he has been here for the longest time," she said.

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[TheNownah]

Where can we find Mr. Gaite now? Why did he sell some of his properties after the scandal, the condo in Makati, and some of his house in Philippines? Did he escape and go to America or he is still in Malacanang right now? Or did he give his money to poor people in the small town of Baao where his cousin is the new mayor now the most richer person in Bicol were those days is only a simple and ordinary person.

Now people what do you think?????????????????????