Globe Asiatique Chair Arrested

Authorities on Thursday arrested Globe Asiatique chairman and founder Delfin Lee at a hotel in Manila for a charge of P6.6-billion syndicated estafa.

The Philippine National Police (PNP) Task Force Tugis arrested Lee at around 7 pm at the Hyatt Hotel in Manila after a year of surveillance by the PNP.

PNP spokesman, Senior Superintendent Wilben Mayor,in a report, said Lee had been subject to surveillance since 2013.

Mayor added Lee’s movements had been monitored at the Hyatt Hotel with the help of the Manila Police District.

Lee’s lawyers had asked the Court of Appeals (CA) for a quashal of the warrant of arrest against him issued by a Regional Trial Court in Pampanga.

Reports said the CA had quashed the warrant but the police stated that the Home Development Mutual Fund, or the Pag-IBIG Fund, had asked the Supreme Court to reverse the decision.

The CA in February said they took cognizance of the Supreme Court’s jurisdiction to decide over Lee’s warrant.

Mayor said the warrant of arrest is valid and existing.

The Globe Asiatique Chairman, who had been among the government’s fugitives list, is accused of making fake documents to secure billion worth of loans for “ghost” borrowers.

 Source: Gma News Online

Image Credit: business.inquirer.net