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Globe Asiatique claims no proof to support fraud allegations

[ manilastandardtoday.com ] November 25, 2010
GLOBE Asiatique Realty Holdings Corp. has asked the Department of Justice to dismiss the criminal charges against them, denying that they can be held liable for syndicated estafa in connection with its alleged anomalous housing projects in Pampanga.
In an affidavit, GA chairman Delfin Lee denied the charges filed by the Home Development Mutual Fund or Pag-IBIG Fund and the National Bureau of Investigation that they defrauded the government at least P6.6 billion in housing loan proceeds from buyers of their housing projects.
“We did not commit any crime. Our track record speaks for itself. The communities that we built tell a story that is diametrically opposed to the one being depicted by the complainants,” the realtor said.
He said their firm did not commit syndicated estafa when it paid for the amortizations of some of the buyers unidentified in the complaint since it was provided in the Funding Commitment Agreement with Pag-IBIG.
Lee pointed out that there was also no proof showing GA intended to commit fraud by
conspiring among its officers and a Pag-IBIG employee also named as respondent.
He argued that there was no fraud because the company had already built the communities and has been occupied by borrowers when it got the funds from Pag-IBIG.
Lee also denied the personal charge lodged against him—that he induced Pag-IBIG into releasing the P6.3 billion loan amounts to GA because of his personal warranties. Rey E. Requejo
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