₱1 million proposed as reward for capture of housing developer Delfin Lee

Nancy C. Carvajal and Tina G. Santos of The Philippine Daily Inquirer report that "a ₱1-million reward has been proposed for the capture of housing developer Delfin Lee of Globe Asiatique."

Nancy C. Carvajal and Tina G. Santos of The Philippine Daily Inquirer report that "a ₱1-million reward has been proposed for the capture of housing developer Delfin Lee of Globe Asiatique." The report noted that Lee has "a standing warrant of arrest for syndicated estafa in connection with Globe Asiatique's Xevera housing projects in Bacolor and Mabalacat towns in Pampanga province." The report revealed that Lee’s son Dexter, along with three officers of Globe Asiatique-Christina Sagun, Cristina Salagan and lawyer Alex Alvarez -have been ordered arrested by a judge in Pampanga. There are also some other Globe Asiatique victims who allegedly want Lee’s daughter Divine included in the charge sheet for her reported involvement in transactions related to Globe Asiatique Tower 2, which is located near the Boni MRT station.

 

The report quoted Joey Salgado, the media officer of Vice President Jejomar Binay, who said, "There is a proposal by the Vice President (Jejomar Binay) for PAG-IBIG to offer the reward money [for Delfin Lee’s capture]. Vice President Binay thinks it's more than a reasonable amount considering that Lee defrauded Pag-Ibig and its members of over ₱7 billion. If this will lead to his arrest, it should be offered but subject to COA (Commission on Audit) approval."

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In the Inquirer report, Carvajal and Santos explained the cause of Lee’s travails in a nutshell (so to speak): "Globe Asiatique took out ₱7.03 billion for 9,951 housing loan accounts from the Pag-Ibig Fund from March 2008 to August 2010. The amount far exceeded the ₱500-million annual limit that Pag-Ibig grants accredited developers. It turned out that the houses were not in the names of the people who were paid to take out the loans. The contracts and titles were supposed to be amended to bear the name of the real buyers. The scheme was reportedly hidden because it was Globe Asiatique that collected the amortization supposedly paid by the buyers. Many of the houses were later found not to be occupied or were being used by other people and not the legitimate buyers."

 

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

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