Broker faces 14-years behind bars, P1-M fine for market manipulation May 24, 2021 | 12:07 am By Valmonte THE Pasig City Regional Trial Court Branch 67 has sentenced broker Johnny S. Yap, former president, sales manager, and director of Solar Securities, Inc., to 14 years of imprisonment and was ordered to pay P1 million for a “reprehensible” market manipulation. The decision came 22 years after the Securities and Exchange Commission filed a complaint involving the trading of the stocks of the then-listed company Best World Resources Corp. (BW). “The SEC filed a criminal complaint against Yap, who was then the president, sales manager, and director of Solar Securities, after the brokerage was found to have committed wash sale transactions composed of 142 buy and sell orders for stocks of BW during the months of June and October 1999,” the commission said in a statement.