Firm employee faces qualified theft charge for disappearance of P2.8 million

CEBU, Philippines – Prosecutors yesterday elevated to court criminal charges against an employee of a firm in Cebu City who allegedly stole P2.8 million from the company.

Prosecutor Mario Ley Gidayawan forwarded the case against Neil John Obeñita to court after the respondent failed to refute the accusations against him during preliminary investigation.

No bail was recommended for Obeñita's temporary liberty.

Michael Gabales, head of finance and accounting of Universal Storefront Services Corporation, said that on September 27, 2010, he directed Obeñita to open the company's vault for the scheduled monthly audit, but Obeñita said he could not do so because he reportedly left the key.

Obeñita was reportedly the sole person in-charge of the vault.

The following day, despite having been advised to bring the key, Obeñita reportedly said he still could not open the vault because he brought the wrong key. The same this allegedly happened on October 2, which made Gabales suspicious.

On October 13, Gabales decided to open the vault forcibly with the help of a technician in the presence of Obeñita and other employees of the firm.

It was then that they found out the money inside the vault did not match the record indicted on ledger for the revolving fund, as of October 12.

"The cash on hand indicated on the revolving fund ledger was P1,795,951.96 and $37,371 while the cash inside the vault was only P7,420 and $12,971 which led to the short of P1,788.831.96 and $24,400 ," Gabales said.

Gabales said he brought Obeñita to the Cebu City Police Station for proper disposition.

The firm is located at the Centro Maximo Bldg. at the corner of D. Jakosalem Street and Ranudo Street, Cebu City. (FREEMAN)