DOJ holds clarificatory hearing on anomalous P6.6B housing loan to Globe Asiatique

March 14, 2011 10:00 pm 

MANILA, March 14 –- A panel of prosecutors of the Department of Justice (DOJ) questioned on Monday some officials of the Home Development Mutual Fund (Pag-IBIG Fund) in connection with the alleged anomalous P6.6-billion housing loan obtained by real estate developer Globe Asiatique.

Among those questioned by the panel was Vilma Flores, Pag-IBIG Fund vice president for Northern Luzon, who was suspended in December 2010 for her alleged failure to detect the anomalous scheme undertaken by Globe Asiatique.

Delfin Lee, president of Globe Asiatique and 16 other officials of the company, are facing syndicated estafa charges before the DOJ in connection with the P6.6-billion housing loan it obtained from Pag-IBIG for its housing project in Xevera Homes Subdivision in Mabalacat, Pampanga.

Globe Asiatique allegedly used fake documents in order to obtain the loan.

Also placed under clarificatory questioning was Pag-IBIG Fund senior vice president Tess Gonzales, who explained the policy regarding the availment of loan and the project category entered into with the real estate developer.

The panel also questioned Gonzales whether they only had the problem with Globe Asiatique compared with other home developers, as well as why did Pag-IBIG Fund relax its policy with Globe Asiatique.

Gonzales said it was because the company applied for housing loan in “volume,” aside from the so-called “buyback warranty” of Globe Asiatique.

The clarificatory hearing will resume Tuesday at 10:30 a.m.

The DOJ panel required the Pag-IBIG Fund officials concerned to submit a copy of the board resolution approving the memorandum of agreement (MOA) between Globe Asiatique and Pag-IBIG Fund. (PNA)



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