Monday, August 25, 2008 Meralco saddened by estafa case
DISTRIBUTION giant Manila Electric Company (Meralco) has expressed sadness on the undue decision issued by the Department of Justice (DOJ) on the case of estafa filed by consumer group National Association of Electricity Consumer for Reforms (Nasecore).
Elpi Cuna, vice-president for corporate communications of Meralco, said the DOJ decision has been done with "undue haste" and has failed to give the respondents the chance to comply and to defend their position.
"They were deprived of the rights to file their counter-affidavits and present evidence in their defense against the complaint for syndicated estafa," Cuna said.
He further asserted that the respondents were not informed that the temporary restraining order (TRO) issued by the regional trial court (RTC) of Makati Branch 141 was terminated and suspended.
Cuna meantime said Meralco is now studying all "legal options" to question the DOJ resolution and the other information filed on court.
Pete Ilagan, president of Nasecore, has charged Meralco officials before the DOJ of syndicated estafa for its alleged failure to indicate in its financial reports that the P889 million meter deposits were collected from its customers instead listed it as its income.
Among those charged were Meralco Chairman Manuel Lopez and the 2006 board of directors Arthur Defensor Jr., Gregory Domingo, Octavio Victor Espiritu, Christian Monsod, Federico Puno, Washington Sycip, Emilio Vicens, Francisco Viray and Cesar Virata.
Also charged with syndicated estafa are Daniel Tagaza, executive vice president and chief financial officer of Meralco; Rafael Andrada, first vice president and treasurer; Helen de Guzman, vice president and corporate auditor and compliance officer; Antonio Valera, vice president and assistant comptroller; and Manolo Fernando, senior assistant vice president and assistant treasurer
In a resolution penned by Regional State Prosecutor Jaime Umpa and released Friday, the DOJ found probable cause to prosecute officials of Meralco.
According to the panel, Meralco is allegedly converting as its income the interest earned by the meter and bill deposits of its subscribers in the amount of P889 million. (MSN/Sunnex)
