Hearing of syndicated estafa case filed by Gaisanos to be held in Cebu City

·2 min read

THE Gaisano family welcomed the Supreme Court 2nd Division’s decision to allow the P24 million syndicated estafa case they filed against the directors and officers of the DW Capital Inc. (DCWI), a stock brokerage firm, to be heard at the Regional Trial Court (RTC) in Cebu City.

This, after the Supreme Court 2nd Division on March 4, 2020 granted the petition for change of the trial venue from Cebu City to Makati City filed by one of the accused, David Wong, chief financial officer of DWCI.

Edgar Gica, who represents private complainant Valerie Gaisano-Sebastian, one of the daughters of business tycoon Edmund Gaisano Sr., said the reversal of the March 4, 2020 SC 2nd Division ruling proves that David Wong’s claim of not being able to achieve fair justice here in Cebu allegedly because of the Gaisano’s influence, is “ridiculous.”

Gica said they filed a motion for reconsideration (MR) after learning that David Wong’s petition was granted even though he is still at large and is “not yet subject to the jurisdiction of the court.”

Gica maintained that the syndicated estafa case against the Wongs and other officers of the DCWI cannot be transferred to another venue as most of the elements of the crime of syndicated estafa were committed in Cebu.

Moreover, he said the witnesses of the prosecution are in Cebu, including suspect Davidson Wong, who was nabbed in Madrid, Spain in January 2020.

Gica said they received the resolution in favor of their MR on Dec. 2, 2020. However, it was only made public Wednesday, Jan. 27.

Gaisano-Sebastian filed the syndicated estafa case against Derwin Wong, her brother-in-law who was arrested in Manila on April 11, 2019 but was able to post bail at P800,000, Davidson and the other accomplices who remain fugitives and four other John Does, for alleged unauthorized trading of investments.

Gica said the P24,360,000 syndicated estafa case that David petitioned to be transfer to another venue involved only one account.

He said this was the case they filed pending the decision of the Court of Appeals (CA) over the original P2.6 billion syndicated estafa case they first filed against the same respondents.

He said they originally filed the P2.6 billion syndicated estafa case and the preliminary investigation was transferred to Manila.

The Department of Justice then created a task force designated as acting Cebu City Prosecutor purposely to conduct the preliminary investigation of the P2.6 billion syndicated estafa case.

He said its dismissal prompted them to contest the decision to the CA which then denied the resolution dismissing it and decided that the case should be investigated in Cebu. / WBS