(Eagle News) — The Supreme Court has downgraded the charges filed against businessman Delfin Lee in connection with a controversial multi-billion peso housing project.
Voting 7-5, the SC downgraded the charges of syndicated estafa to simple estafa against the president of property developer Globe Asiatique.
This means, the SC said, that Lee was “entitled to bail as a matter of right.”
Lee was arrested for allegedly allowing the double-sale of townhouses in the Xevera Bacolor and Mabalacat projects, and after property developer Globe Asiatique allegedly took out at least P6.6 billion in housing loan proceeds for “buyers” of its housing projects in Pampanga.
The buyers, it turned out, were non-existent and fictitious. Moira Encina