Reward awaits for the arrest of DWCI officers

Reward awaits for the arrest of DWCI officers

“IF YOU'RE not guilty, then come out,” said lawyer Edgar Gica to the nine other directors and officers of DW Capital, Inc. who were charged with syndicated estafa and are still at large.

Valerie Gaisano-Sebastian, one of the daughters of business tycoon Edmund “Eddie” Gaisano Sr., filed a syndicated estafa case against DW Capital, Inc., a stock brokerage company, and its directors and officers over alleged unauthorized trading of P24,360,000 in investments.

Derwin Wong, Gaisano-Sebastian's brother-in-law, whose family used to run DWCI, was already arrested in Manila on April 11, 2019.

Regional Trial Court Judge James Steward Himalaloan issued the warrants of arrest for the nine other accomplices who remain fugitives, including Wong Chung Yin also known as David Wong (DWCI Chief Financial), Derick Wong (DWCI Vice-President and Director), Dianne Wong (DWCI Vice President for Sales and is currently its Associated Person), Davidson Wong (DWCI Treasurer), Lucy Chua (DWCI Assistant Manager and Corporate Secretary), Juvy Ting (DWCI independent director), Susan Lu, Beverly Ansay, and Leonardo Marzan.

Four other John Does have also yet to be identified.

Gica said his client, Gaisano-Sebastian, is offering a reward money to whoever could provide helpful information on the whereabouts of the other identified suspects. Anyone who could do so may contact him or the National Bureau of Investigation (NBI) 7.

For Cebu, NBI 7 Arnel Pura can be contacted at 09173219527 while Agent Dundee Santos for Manila can be contacted at 0920 2672007.

Gaisano-Sebastian, in her complaint, said their transaction with Derwin Wong started when her sister, Eda Frances Gaisano, married the latter in 2007.

Gica said they already filed a motion before the RTC 7 to direct the defense counsel to disclose the other suspects’ locations.

“We ask them to surrender to the jurisdiction of the court. They cannot ask (for) any relief unless they will submit to the jurisdiction of the court,” he said.

“I also told their lawyers that they are officers of the court and besides there is a law against obstruction of justice. When you’re harboring your clients away from the clutches of the law, that is obstruction of justice,” he added.

According to Gica, Wong’s party is reportedly filing a petition for bail. However, he said, bail is a matter of right if one is not charged with a capital offense and if the evidence of guilt is not strong.

“He (Derwin Wong) was arraigned. He pleaded not guilty. They filed several motions to suspend the proceedings, even filed a motion to change venue. Now, they filed a petition for bail because according to them, it’s their right. But it’s a syndicated estafa. The recommendation of the Cebu City Prosecutor’s Office is no bail because of the fact that it is a capital offense,” he said.

Syndicated or large-scale estafa is a non-bailable offense. (SPONSORED CONTENT)

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