The PCGG filed a petition for certiorari questioning the Sandiganbayan decision that ruled there was no evidence to support the complaint that Velasco utilized government resources in the amount of P3 million to construct and maintain the Telin Beach Resort.
The PCGG argued that the Sandiganbayan committed grave abuse of discretion in acquitting Velasco.
However, the Supreme Court ruled that a careful review of the Sandiganbayan resolution shows that the anti-graft court "painstakingly and exhaustively passed upon, considered and evaluated the evidence, both documentary and testimonial adduced by the prosecution."
The Supreme Court said there was "no trace of impetuosity or wantonness" on the part of the Sandiganbayan when it acquitted Velasco after he filed a demurrer to evidence following submission of evidence by the PCGG.
Moreover, the High Court cited a well-settled rule that "an acquitted defendant is entitled to the right of repose as a direct consequence of the finality of his acquittal. The philosophy underlying this rule establishing the absolute nature of acquittals is part of the importance criminal justice system attaches to the protection of the innocent against wrongful conviction."
The Supreme Court decision, penned by Justice Angelina Sandoval-Gutierrez, was unanimously concurred in by Justices Jose A. R. Melo, the fourth division’s chairman, Jose Vitug and Artemio Panganiban.