DOJ hearing on P6.6-B estafa raps vs Globe Asiatique set

A Department of Justice investigating panel is set to hold a clarificatory hearing on the syndicated estafa complaint against real estate developer Delfin Lee and 16 others. Senior Assistant State Prosecutor Ma. Emilia Luena Victorio, head of the five-member panel, set the hearing for Feb. 21 and 22. The panel has invited witnesses to shed light on how Globe Asiatique Realty and Holdings Corp., a leading real estate developer, allegedly used Pag-IBIG (Home Development Mutual Fund) money for bogus housing loans and questionable development projects. Last October, Pag-IBIG, the Housing and Urban Development Coordinating Council (HUDCC), and the National Bureau of Investigation (NBI) accused Globe Asiatique's president and CEO Delfin Lee and 16 others of allegedly taking out at least P6.6 billion in housing loan proceeds for clients of its housing projects in Pampanga. Of 9,951alleged Pag-IBIG borrowers in the Globe Asiatique deals, 1,000 could not be located, 400 were denied applying for housing loans, and 200 had incomplete documents for the transaction, according to the NBI. Lee had denied committing any anomaly in his company’s transactions. On Monday, two of the respondents, Christina Sagun and Alex Alvarez filed their rejoinders denying they have committed any wrongdoing in the course of doing Globe Asiatique’ business with the government agency on affordable housing loans for employees. Sagun was Globe Asiatique's documentation department head, while Alvarez was an employee of Pag-IBIG’s legal department. — VS, GMANews.TV