Former Philippine Stock Exchange employee Jose Cecilio “Jay” Peñaflor on Friday showed up before the Department of Justice to deny the criminal charges filed by one of the victims of his alleged P100-million investment scam.
Peñaflor with his lawyer attended the preliminary investigation and submitted his counter-affidavit on charges of violation of Article 315 (Swindling) of the Revised Penal Code, as amended, in relation to Presidential Decree 1689 (Syndicated Estafa) filed by Joyce Marie Jao.
Peñaflor’s brother, who was also charged in the same complaint, also formally denied the allegations.
In her complaint-affidavit, Jao alleged that the respondents enticed her into investing P4 million in stocks at ABS-CBN Corp. with a promised interest of “around 50 percent.” She said they have not paid her a total of P10 million in principal and interest.
Peñaflor was arrested last Feb. 16 by the NBI in an entrapment operation while collecting an additional investment of P500,000 from Jao. He was ordered released pending further investigation.
The prosecutor explained that the charges against Peñaflor pertained to “previous acts or past series of transactions that [Lao] had with respondent” and not for the act of receiving an additional investment of P500,000 for which he was arrested for by the NBI.
Peñaflor avoided the media and immediately left the DoJ building after the hearing. His lawyer also declined to furnish the media of the copy of his client’s formal answer submitted to investigating Assistant State Prosecutor Rodan Parrocha.
In an interview, Parrocha disclosed that Peñaflor brothers denied the allegations in the complaint of Jao.
“Basically, the two denied the charges. That’s a common defense of respondents,” the prosecutor said.
Parrocha also welcomed the appearance of Peñaflor brothers in the hearing. “The lawyer made an undertaking during the last hearing that his clients would appear. So somehow, they fulfilled that promise,” he said.
The prosecutor also clarified that the charges has not yet been dismissed or terminated despite his earlier order for the release of Peñaflor last month.
“The case has not been dismissed. Some people are thinking it was already dismissed because we allowed his temporary release, but that’s not the case,” he pointed out.
The three other respondents in the case—John Benedict Aguzar, Rafael Sigua, and a certain Mike—failed to appear during the hearing.
The prosecutor then set the next hearing on March 17 at 10 a.m. for the complainant’s submission of her reply-affidavit.
Similar complaints against Peñaflor have been filed before the Quezon City Prosecutor’s Office and the National Bureau of Investigation.