CA upholds conviction of pyramiding queen

MANILA — The Court of Appeals (CA) has upheld the ruling rendered by the Muntinlupa City Regional Trial Court (RTC) against pyramiding queen Rosario Baladjay in connection with the investment scheme designed to entice would-be investors to put their money with the Multinational Telecom Investors Corporation (Multitel).

In a Feb. 5, 2015 ruling written by Associate Justice Victoria Isabel A. Paredes and released yesterday, the CA’s Ninth Division denied the appeal filed by Baladjay.

“The decision dated Oct. 9, 2012 of the [RTC for Estafa], finding appellant guilty beyond reasonable doubt is affirmed with further modification that the prison term imposed on appellant is four years and two months of prision correccional as minimum, to 13 years of reclusion temporal as maximum,” the CA ruling said.

Concurring with the ruling were Associate Justices Isaias P. Dicdican and Elihu A. Ybañez.

Records of the case show that Florentina Bondoc encouraged the complainant Moises Butac and his wife Augustina Butac to invest in the Multitel with huge interests.