Makati judge resets sentencing of pyramid scam suspects

MANILA, Philippines - Makati Regional Trial Court (RTC) Judge Winlove Dumayas postponed yesterday the promulgation of the sentence against two alleged associates of “pyramiding queen” Rose Baladjay for 511 counts of syndicated estafa after their lawyer came to court late.

Dumayas ordered defense lawyer Rovenel Obligar – who represents Felix Aquino and his wife, Iris – to explain within five days why he should not be cited for contempt for arriving late after he had adjourned yesterday’s hearing and reset the sentencing to Sept. 30.

Felix and Iris were president and chairperson, respectively, of the investment firm Everflow Group of Companies, one of the conduits of Baladjay’s Multitel Internatinal Holdings, Inc. (MIHI), which victimized thousands of people in the P100-billion pyramiding scam in 2002.

Dumayas dismissed outright an urgent motion by Obligar seeking to reschedule the sentencing, but was forced to do so because there was no lawyer to represent the Aquino couple.

One of the complainants, Leonidad Vingno, said some of their co-complainants, who invested in the EGC – ordered closed by the Security and Exchange Commission (SEC) on Sept. 10, 2002 – have either died, became handicapped and lost their livelihood, property and money.

The SEC has ruled that EGC and its parent company, MIHI, is not authorized to engage in the business of offering or selling investment contracts to the public.

The EGC is registered as a management consulting company while MIHI is a holding firm.

The Aquinos have several estafa charges pending in at least 10 other Makati RTC branches. Three other co-accused, Pearl Militar, Ma. Theresa Villorente and Francisco San Jose remain at large. – Jose Rodel Clapano