Fugitive real estate magnate Delfin Lee arrested in 5-star hotel after 2 years of hiding

He has a P2 million bounty on his head.

Marlon Ramos of the Philippine Daily Inquirer reports that fugitive real estate magnate Delfin Lee, has been arrested by the police on Thursday (March 6) inside the Hyatt Regency Hotel and Casino in Manila.

According to the report, "Lee was in a meeting with his lawyer and business associates at the hotel lobby when he was caught by the police." An official from the Philippine National Police said the owner of property developer GlobeAsiatique Realty Holdings had been under surveillance for several months, but it was only on Thursday that the authorities were able to pin down his exact location. Lee was taken to the PNP Headquarters in Camp Crame after his arrest.

A Pampanga court issued a warrant of arrest for Lee in May 2012 his son Dexter and three officers of GlobeAsiatique for syndicated estafa for allegedly using fictitious members of Pag-Ibig Fund "to defraud the agency of P7 billion in housing loans to be used in GlobeAsiatique's projects in Bacolor and Mabalacat towns in Pampanga from 2008 to 2011."  President Aquino has placed a bounty of P2 million for his arrest.


For more on this story, log on to Inquirer.net.

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