DOJ resumes hearing on syndicated estafa raps vs Globe Asiatique head

A Department of Justice panel on Monday resumed its hearings on the P6.6-billion syndicated estafa complaint against Delfin Lee, Globe Asiatique owner and real estate developer. Lee was present at the proceedings, but has yet to speak before the panel. The Globe Asiatique owner has repeatedly denied committing anomaly in his housing projects. As of posting time, the DOJ panel is conducting clarificatory questioning on the possible involvement of Vilma Flores — Home Development Mutual Fund's (Pag-IBIG Fund) vice president for Northern Luzon — in the alleged irregularities in the P6.6 billion housing loan Globe Asiatique got from Pag-IBIG. Flores was preventively suspended since December 2010, when an administrative case for "grave misconduct" was filed against her by Pag-IBIG. it was because of Flores' supposed inaction that Pag-IBIG failed to immediately detect Globe Asiatique's alleged fraudulent schemes. Lee and 16 others supposedly took out at least P6.6 billion in housing loan proceeds for clients of its housing projects in Xevera Homes in Mabalacat, Pampanga. Of 9,951 alleged 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 National Bureau of Investigation. There are two other syndicated estafa complaints lodged against Lee. Both involve the alleged double sale of properties in Xevera Homes in Pampanga. In the two complaints, the private complainants claimed they were duped into buying the properties from Lee's Globe Asiatique Realty Holdings. They said the properties they bought were in fact already sold to other Pag-IBIG borrowers. Syndicated estafa is a non-bailable offense. — Sophia Dedace/RSJ, GMA News