Alliance Select’s SyCip to appeal estafa case
Alliance Select Foods International, Inc. said its Vice Chairman George SyCip is set to file a motion for reconsideration against the Justice Department’s charges against his alleged involvement in an estafa case.
The firm told the stock exchange that SyCip “strongly” denies having committed any unlawful act that leads to estafa.
“He is confident that if the evidence is duly considered and due process is followed, the charges will be dismissed,” the firm added.
The office of the City Prosecutor of Manila and the Department of Justice (DOJ) earlier dismissed the more serious Syndicated Estafa and Falsification of Public Documents charges filed against new and incumbent officials of the company in the 2017 Joint Resolution, the ASFI said.
Along with SyCip, son of the late Washington SyCip, the DOJ also found “probable cause” to indict former directors and officers Jonathan Dee, Alvin Dee, Joanna Dee-Laurel, Teresita Ladanga, Grace Dogillo and Arak Ratboriharn over the alleged isolated transactions made during their tenure.
The DOJ resolution also reaffirmed the dismissal of syndicated estafa charges against new and incumbent officers and directors Raymond See, Marie Grace Vera Cruz, and Antonio Pacis for “lack of merit and absence of basis.”