The Daily Tribune
Escudero’s alleged ‘bagman’ Maynard Ngu resigns from firm
Maynard Ngu, CEO of Cherry Mobile maker Cosmic Technologies and President Ferdinand Marcos Jr.'s special envoy to China, has resigned as an independent director of Altus Property Ventures Incorporated (APVI).
His resignation follows allegations by former public works undersecretary Roberto Bernardo that Ngu acted as a bagman for Senator Francis Escudero, receiving P160 million in kickbacks from infrastructure projects.
APVI confirmed Ngu's resignation, citing personal reasons.
Senator Escudero has denied the accusations, calling them a "scripted narrative" to discredit him and vowing to defend his name.
Topics in this story
Explore more stories about these topics.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
