• Pag-IBIG asks court to dismiss GA complaint

    0

    The Pag-IBIG Fund had asked a trial court to dismiss for lack of merit a civil complaint filed by Delfin Lee of Globe Asiatique, who is facing the non-bailable offense of syndicated estafa for allegedly defrauding the agency of more than P6 billion.

    In a quieting of title case recently filed in Angeles City, Pampanga, Lee claimed that Pag-IBIG Fund improperly transferred to its name titles to GA’s properties. While GA admits that it assigned these properties to Pag-IBIG Fund by way of Deeds of Assignment, it insists that the transfer of the titles in the name of Pag-IBIG Fund is illegal in the absence of a prior demand on GA.

    But the agency maintained that no such demand is required because GA already lost any interest over the properties when it executed the deeds of assignment in favor of the Fund.

    It noted that GA’s deeds of assignment were in exchange for the full payment it received from the Fund for those properties. Pag-IBIG Fund explained that payments were made to GA to finance the house acquisition of GA’s purported home buyers. Unfortunately, subsequent investigation conducted by the Department of Justice showed that many of the home buyers endorsed by GA for financing were bogus or non-existent. These findings even–tually led to the filing of the multi-billion syndicated estafa case against Lee and four others at the regional trial court of the City of San Fernan–do. Worse, GA sold several of the same properties to other persons after they were assigned to Pag-IBIG Fund.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    Comments are closed.