Seven officials of the Alliance Select Foods International, Inc., including the scion of one of the country’s top finance leaders, were cleared of syndicated estafa and falsification charges in connection with the corporate dispute between ASFI directors and its Singaporean investors.
Based on a joint resolution dated March 27, 2018 signed by Department of Justice Undersecretary Deo Marco, those cleared were ASFI directors George SyCip, Jonathan Y. Dee, Alvin Y. Dee, Joanna Y. Dee- Laurel, Teresita S. Ladanga, Grace S. Dogilio and Arak Ratborihan.
The resolution (NPS docket no. XV-07-INV-16B-01028) affirmed the dismissal of the cases lodged against the directors and officers of ASFI by Hedy S.C. Chua-Yap, representing Victory Fund Ltd., Harvest All Investment Ltd. and Bondeast Private Ltd.
The same DoJ resolution, however, directed the Manila City Prosecutors Office to file the necessary Information against the respondents, after it found probable cause to charge them with Simple Estafa under Article 315 2(a) of the Revised Penal Code.
But in a letter dated July 23, 2018, Manila City prosecutor Edward Togonon, advised the Justice department that they “encountered difficulty in complying with the DoJ directive” for the filing of the information for simple estafa against the respondents.
“We could not find any act constituting the said offense or any single element thereof that might have happened or occurred in the City of Manila,” Togonon said in his letter addressed to Marco.
Instead, the Prosecutor of Manila requested the DoJ to revisit its Joint Resolution in the subject case to clarify and address the issue.
For his part, SyCip, son of business leader Washington SyCip, maintained that he didn’t commit any unlawful act.
“The rulings from the DoJ and the Prosecutor’s office proves that I have remained faithful in living up with the good name and high integrity built by my father for the business community and our country,” Sycip said.
These developments have buttressed the respondents’ motion questioning the DoJ’s ruling that they should be charged with simple estafa.
Sycip’s group have also filed a Petition for Certiorari with the Court of Appeals to question the DOJ’s ruling dismissing the perjury counter-charge against Ms. Hedy S. C. Chua – Yap.