‘Pag-IBIG Fund owes Delfin Lee P.6 billion’

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DETAINED real-estate developer Delfin Lee does not owe the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund P6 billion.

Rather, it is Pag-IBIG Fund that owes the businessman P600 million, Sen. Antonio Trillanes 4th said on Thursday.

Trillanes, who had been accused by the United Nationalist Alliance (UNA) of lawyering for Lee, added that the information came from no less than lawyer Darlene Berberabe, Pag-IBIG Fund president and CEO, when she testified during a Senate blue ribbon sub-committee hearing last Monday.

The senator in an interview said he was neither defending nor saying Lee is innocent since it is the courts that should decide on the case but that it appeared that the government has deprived somebody of freedom but could not even explain why.


Lee, who owns housing firm Globe Asiatique (GA), is facing syndicated estafa charges in connection with the P6.6-billion housing scandal that allegedly involved double sale of houses and victimized thousands of home buyers.

Sub-committee members during the last hearing said only 199 borrowers have actually filed cases against Globe Asiatique in court based on documents presented by both parties during the hearing.

Lawyer Willy Rivera, Lee’s counsel, also during the hearing said GA has only 28 complainants while Berberabe admitted that Pag-IBIG has “168 [borrowers]who were involved and filed syndicated estafa [charges].”

The businessman belied reports that the anomaly was discovered by Vice President Jejomar Binay when he assumed office in 2010, noting that GA already discovered defaulting accounts and asked permission from Pag-IBIG to have them replaced.

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