Tagged as Escudero bagman, tech boss Maynard Ngu resigns from property firm

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Maynard Ngu, resigns as an independent director of real estate firm Altus Property Ventures Inc., days after he was tagged as the alleged bagman for Senator Chiz Escudero in a multi-billion peso infrastructure scam.  Full story: https://www.rappler.com/business/maynard-ngu-resigns-board-director-altus-property-ventures/

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00:00Maynard Ngu resigns as an independent director of the real estate firm Altos Property Ventures

00:06Incorporated, the company said in a disclosure to the Philippine Stock Exchange on Tuesday,

00:11September 30. He resigned due to personal reasons. Ngu is also the head of Cosmic Technologies,

00:17maker of Cherry Mobile phones. This days after Ngu was tagged as the alleged bagman for Senator

00:22Cheese Escudero in a multibillion-peso infrastructure scam. He was named by former

00:26Public Works Undersecretary Roberto Bernardo who said he and Ngu are friends who go way back.

00:32Bernardo recounted an instance in which he allegedly delivered 160 million pesos in kickbacks to Ngu

00:37meant for Senator Escudero. Based on the senator's statement of contributions and expenditures,

00:43Ngu donated 30 million pesos to Escudero's 2022 senatorial campaign. Ngu also has at least

00:48two businesses with Escudero's wife, fashion influencer and actress Hart Evangelista.

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