Delfin Lee allowed bail for P6.6-B swindle

Despite alleged questionable housing loans amounting to P6.6 billion, the Supreme Court (SC) has allowed Delfin Lee, president of property developer Globe Asiatique (GA), to post bail.

Voting 7-5 with two abstentions, the high tribunal dismissed yesterday the petition filed by the Department of Justice and Home Development Mutual Fund (Pag-IBIG Fund) to reverse a Court of Appeals (CA) ruling that downgraded the charges filed against Lee from syndicated to simple estafa.

The SC also lifted the temporary restraining order it issued in March 2014 stopping the implementation of a CA ruling that ordered Lee’s release from the Pampanga provincial jail.

“The court downgraded the offense... As a consequence... Lee... is entitled to bail as a matter of right,” SC spokesman Theodore Te told a press briefing.

The high court has yet to release copies of its decision pending the signatures of justices. It had reset deliberations on the case for more than 20 times since June 2015.

Lee was indicted for syndicated estafa for allegedly defrauding the government of Pag-IBIG housing loan proceeds worth P6.6 billion, which probers found fictitious or had incomplete documents.

In its ruling, the CA said Lee could not be prosecuted for a non-bailable charge of syndicated estafa after the charges filed against two of his co-accused – Pag-IBIG Fund foreclosure manager Alex Alvarez and GA documentation head Christina Sagun – were dismissed.

The apellate court said syndicated estafa would not apply with only Lee, GA vice president Dexter Lee and accounting head Cristina Salagan as respondents because the law requires at least five respondents.

Lee was arrested on March 6, 2014, after three years in hiding, based on a warrant issued by a court in Pampanga.

He said he felt ”vindicated” with the SC ruling even as he vowed to “totally clear” his name, noting that he did not commit even simple estafa.

8 nabbed for investment scam

Meanwhile, in Pangasinan, eight persons were arrested while 11 persons, including a former councilor, were charged with syndicated estafa last week for allegedly amassing around P60 million from at least 2,000 persons in an investment scheme.

Chief Superintendent Romulo Sapitula, Ilocos police director, identified the alleged brains of the scam as Renato Gabiola, former councilor of Sta. Barbara town, and his partner Sharmaine Castillo. The couple along with one of their employees identified as Chenyenne Pearl Nelvis remain at large.

Hannah Cristina Marquez, Aurelia Marquez, Janice Daluzong, Richelle Pangilinan, Kristine Coleen Martin, Camille Cyree de la Cruz, Haydee Marie Ramos and Mhay Ann Lanuza were arrested.

Sapitula said the suspects recruited prospective investors through social media.

He said the victims, many of them overseas Filipino workers, invested between P5,000 to P780,000 after they were promised returns equivalent to 50 percent of their investments per week.

Superintendent Rollfer Capoquian, Urdaneta police chief, said some of the victims received payments only for three months.