Last Sunday, this column aired the grievances of the Lichaytoo family which owns the Bacchus Food and Wine business against their associates in a company called C & F which imports and sells equipment for trap and skeet shooting, an Olympic event which is gaining popularity in the country today.
In the spirit of fairness, this column is giving the other party a chance to present its side of the controversy which has become the talk of the local business community.
Raul Arambulo and Adam Jimenez co-founded C & F, together with Alexander and Clifford Lichaytoo whom they have both accused of estafa and whose answer to the charges were explained in last Sunday’s column. The two has asked that we explain what the bases for the charges were in the first place.
We are obliging the request to affirm that this column is impartial to the issue at hand.
Messrs. Arambulo and Jimenez pointed out to us that the estafa case is now sub judice, since it has already been elevated to the sala of Judge Maria Cristina Cornejo of the Makati Regional Trial Court after Makati chief prosecutor Feliciano Aspi approved the indictment of the Lichaytoo brothers.
Since the case is sub judice, this column told Messrs. Arambulo and Jimenez that we can present only the allegations that have already been submitted to the court and which are now public document anyway. We will abstain from commenting on the merits of the case out of respect for the court.
Messrs. Arambulo and Jimenez said they have entrusted the control of the corporate funds of C & F to their partners, the Lichaytoo brothers, since 2004 up to end 2006, when they allegedly discovered that the latter have deposited some 18 checks from C & F clients worth P2.5 million, and several other cash and checks from corporate transactions worth P4.9 million into the Lichatoo’s personal bank accounts.
They also alleged that the Lichaytoos deposited into their personal bank account a check issued by the Philippine Sports Commission to C & F worth P0.4 million for the purchase of ammunition for the 2005 Southeast Asian Games shooting team. They alleged that this check eventually found its way into the account of the Lichaytoo-owned Bacchus International wine shop.
Messrs. Arambulo and Jimenez also alleged that they thwarted an attempt by the Lichaytoo brothers to withdraw P5.4 million from the corporate funds of C & F deposited with the Bank of the Philippine Islands. They added that the Philippine Bank of Communications has attested that the Lichaytoo brothers have maintained both a corporate and personal accounts with the bank that are now involved in the case at hand.
That millions in corporate funds landed into the personal banks accounts and that of the family business of their partners is the core of the estafa case they filed against the Lichaytoos, Messrs. Arambulo and Jimenez explained.
Messrs. Arambulo and Jimenez also informed this column that the counter-charges of falsification of private documents filed against them by the Lichaytoo brothers have been dismissed.
Those are the facts as presented by the parties on the other side of the issue.
This column rests, assured that it has done its share in promoting the spirit of fairness in journalism.
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