The former owner of Chemical Industries of the Philippines (Chemphil) Antonio Garcia and four others were arrested for swindling by a group of agents from the National Bureau of Investigation at a private hangar in the Ninoy Aquino International Airport on Saturday afternoon.
MANILA (AdChoiceTV News) — The arrest order was issued by Quezon City Regional Trial Court Branch 224 Judge Zita Marie Magundayao Atienza- Fajardo issued on 22 June 2021, a copy of which was obtained by Bilyonaryo.com.
The document did not reveal who filed the estafa charges against Garcia’s group.
Aside from Garcia, the other accused in the estafa case were Alexandra Garcia; Ernesto Barreiro and Grace Bagatsing and Eduardo Lim Jr.
Lim was not among those arrested because he was not in the group of Garcia who were arrested upon their arrival on board a chartered plane from Balesin island at 3:30 in the afternoon.
The accused are now detained at the NBI jail, and no bail has been recommended by Atienza-Fajardo.
Garcia sold his family’s controlling stake in Chemphil for P1.04 billion in 2019 to the Unioil group, led by Janice Co Roxas-Chua, which plans to use the company’s stock for backdoor listing of its petroleum and property assets.
The sale ended the decades-long, bitter feud between Antonio and his brother, Ramon, for control of the company founded by their father in 1958.
First published by Bilyonaryo.com — Reported by ITC, AdChoiceTV News (Manila)