PAG-IBIG FUND in a statement Wednesday quoted its CEO as saying he was “saddened” by the Supreme Court (SC) ruling on Delfin Lee’s P6.6 billion Globe Asiatique scam case.
The SC said on Tuesday it has downgraded the syndicated estafa case against Mr. Lee to simple estafa, a bailable offense.
In the statement, Pag-IBIG Fund CEO Acmad Rizaldy P. Moti said: “We’re saddened by the recent turn of events in the Globe Asiatique scam case but we continue to trust in due process and our justice system. This recent decision of the Supreme Court does not mean that he is innocent of fraud. The trial will continue. We will continue to pursue what is in the best interest of the Fund, our members, and all the home owners and borrowers affected by Lee’s actions.”
He added, “Pag-IBIG Fund shall closely coordinate with the Department of Justice, being the lead counsel and public prosecutor, to determine the next steps we will take.”
The statement also said, recalling the background of this case: “In 2012, Delfin Lee, his son Dexter Lee, Christina Sagun, Cristina Salagan and Atty. Alex Alvarez were indicted for syndicated estafa after separate probes of the Department of Justice and the National Bureau of Investigation concluded that Lee and his cohorts used fake buyers and fraudulent documents to deceive Pag-IBIG Fund into releasing loan proceeds in the amount of P6.6 billion to his firm, Globe Asiatique Realty Holdings Corporation.”
“Lee went into hiding to evade the case but he was nabbed by the police in March 2014. His cohorts are still at large to this day.”