A mining company filed estafa charges against the Philippine National Bank’s (PNB) board of directors after the latter denied the existence of the company’s P9-billion account.
In a 13-page complaint filed by lawyer Vic Millora, counsel for the Phil-Hawaii Mining and Industrial Corporation (PHMIC), before the Department of Justice, the company claimed that PNB refused to allow its representatives, led by lawyer Crisanto Cornejo, to withdraw P9.2 billion despite the existence of a court order.
The controversy arose when Mikasa Corporation of Japan deposited 1 billion yen to PHMIC’s account with PNB on January 7, 1986.
The said transaction was confirmed by certificates issued by the Mizuho bank’s legal department, stating that 1 billion yen was put into PHMIC’s account with PNB and that there was now a record that the checks were dishonored.
The amount, Millora said, represents the investment of a certain Minoru Fukumitsu in the operations of PHMIC.
After several court proceedings, the Manila RTC on December 26, 2012 decided that the certification issued by the Mizuho bank was proof that PNB indeed received the said amount.
The said court also issued a garnishment order on January 3, 2013 in favor of Cornejo covering the amount of P9,241,837,790 to be deposited with the clerk of court. The garnishment order has not yet been enforced as of this date.