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Construction supplier files estafa raps vs. Finmat

A construction supplier filed a P68-million estafa case against Finmat International Resources Inc., one of the major contractors of Okada Philippines, before a Regional Trial Court in Metro Manila.

The Golden Mile Enterprises accused Finmat owner, Reynaldo de Jesus, with office address at Caniogan, Pasig City, for failing to pay the construction materials ordered by Finmat  in the amount of  P68.237,818.80.

 In a 21-page complaint, Finmat engaged the services of Golden Mile Enterprises for the supply and application of epoxy injection  project worth P2.7 million in May 2016. 

Other several projects followed in the following year and the amount reached more than P60 million.

Under the contract, Finmat will pay GME  upon completion of the project, while payment will be made once the first party, which is Okada, settled its obligation to Finmat.

GME supplied the necessary materials and performed the necessary works in accordance with the agreement. 

The supplier also performed extra works not provided under the contract.

However, when the project was completed,  GME demanded payment  to Finmat for the finished contract project, but the construction firm’s operation manager, engineer Robert Tayag, asked for a  “little more time”  to settle on the excuse that the project owner, Okada, was delayed in payment.

The GME, represented by lawyer Ferdinand Topacio,  gave Finmat more time settle their obligation since the said construction firm was a respected firm and claimed it was close with the present administration.

In Sept. 3, 2018, the GME demanded full payment for the completion of the project, but Finmat International Resources Inc., again refused to settle its obligation, on the pretext that Finmat’s collection from Okada, remained unpaid.

However, it was found out that Okada had already settled its obligation with Finmat, and yet did not pay GME of its unsettled dues.

Topics: Finmat International Resources , Okada Philippines , Golden Mile Enterprises , Reynaldo de Jesus
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