MANILA, Philippines — Businessman Joseph Calata is suing Alfred Reiterer for alleged extortion and cyber libel.
Reiterer, an Austrian national, has been complaining before the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission (SEC) against Calata and his company Calata Corp.
Claiming to represent the minority shareholders of Calata Corp., Reiterer wants Calata to buy back the shares of the company’s minority shareholders.
The PSE delisted Calata Corp. last year, citing multiple violations of the exchange’s disclosure rules.
Calata filed criminal charges against Reiterer last week in Bulacan. He also said Reiterer does not own a single share in the company and has no legal basis for him to claim or designate himself as representative of the minority shareholders of the company.
“The company is also in coordination with the National Bureau of Investigation and the Bureau of Immigration to investigate Reiterer and all his disruptive and/or illegal acts in the country,” Calata said.
The NBI, for its part, has already commenced verification proceeding.
Calata said that Reiterer is in the country supposedly as a tourist and not as a businessman but is instead using his presence in the Philippines to attack Filipino businesses.
“This is clearly a misrepresentation and abuse of his entry to the country,” Calata said.
Aside from pushing for a buyback of Calata shares, Reiterer has also recently brought to the attention of the SEC the initial coin offering (ICO) launched by Krops, a mobile app, which was also founded by Calata.
Krops’ parent company, Black Cell Technology Ltd. is registered in Hong Kong. Its ICO is still ongoing.
Calata said he would be filing more charges against Reiterer.
“In the coming weeks, additional criminal, civil and administrative cases shall be filed against Reiterer as a result of a continuous and thorough investigation against him and his disruptive and/or illegal actions not only against Calata Corp., Black Cell Technology Ltd. (HK) and also against Joseph H. Calata who remains firm in not giving in to Reiterer’s unlawful threats and acts of harassment which are obviously aimed for his personal benefit and other inconceivably suspicious motive,” Calata said.