VACC seeks in­dict­ment of Jack Lam

Business World - - THE NATION - By Kris­tine Joy V. Patag Re­porter

AN ANTI-CRIME GROUP on Thurs­day pushed for the in­dict­ment of Chi­nese gam­ing ty­coon Jack Lam for vi­o­la­tion of the anti-dummy law.

In a pre­lim­i­nary investigation in the Depart­ment of Jus­tice (DoJ) set yes­ter­day, the Vol­un­teers Against Crime and Cor­rup­tion (VACC) filed a 5-page re­ply af­fi­davit ar­gu­ing: “It is most re­spect­fully prayed that this Hon­or­able Of­fice find prob­a­ble cause against re­spon­dent for vi­o­la­tion Sec­tion 2-A of Com­mon­wealth Act No. 108, as amended by Pres­i­den­tial De­cree No. 715 or the Anti-Dummy Law,” the re­ply-af­fi­davit signed by Arse­nio Evan­ge­lista reads.

Mr. Evan­ge­lista in­sists that the coun­sel for Mr. Lam, Char­lie T. Ang, failed to pro­vide doc­u­ments to sup­port its claim that Ilo­can­dia is Filipino-owned.

“Stated other­wise, Mr. Ang’s de­fenses merely con­sti­tute plain de­nials with­out sub­stan­ti­a­tion,” the VACC said.

To re­call, the VACC, in De­cem­ber last year, filed an anti-dummy com­plaint against Mr. Lam for his al­legedly us­ing dummy ac­counts in the own­er­ship of Fort Ilo­can­dia Re­sort Ho­tel in Laoag, Ilo­cos Norte.

The eight-page com­plaint reads: “Through cor­po­rate lay­er­ing, Fort Ilo­can­dia through its dummy com­pa­nies, and its Di­rec­tors and Of­fi­cers are able to ex­er­cise, en­joy, use and ex­ploit real prop­erty in the Philip­pines con­trary to law.”

Ac­cord­ing to the VACC, Fort Ilo­can­dia’s stock­hold­ings are as fol­lows: 59% to Ilo­can­dia Hold­ings Corp., 39% — In­tel­lec­tual Group Ltd. (IGL) (for­eign), less than 1% or 1 share to Jack Lam.

IGL, ac­cord­ing to the VACC, is a “cor­po­ra­tion duly or­ga­nized and ex­ist­ing un­der the laws of the Bri­tish Vir­gin Is­lands (BVI).”

In their lat­est re­ply-af­fi­davit, the VACC said that: “There (is) no proof that the BVI com­pa­nies are reg­is­tered as do­ing busi­ness in the Philip­pines nor did Mr. Ang at­tempt to prove the same.”

The Se­cu­ri­ties and Ex­change Com­mis­sion (SEC) Me­moran­dum Cir­cu­lar No. 8, Se­ries of 2013 states that Filipino nationals should own 60% of a cor­po­ra­tion “en­gaged in na­tion­al­ized or partly na­tion­al­ized ac­tiv­i­ties.”

The said me­moran­dum was up­held by the Supreme Court (SC) last April 18 as, vot­ing 8-5, the high court junked the Mo­tion for re­con­sid­er­a­tion filed by pri­vate lawyer Jose M. Roy III that chal­lenged anew the con­sti­tu­tion­al­ity of the me­moran­dum.

The DoJ set the next hear­ing on the case on April 28, 2:00 p.m.

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