The Office of the City Prosecutor in Cebu has found probable cause to file criminal charges for violation of the Bouncing Checks Law (B.P. Blg. 22) against two officers of PJH Lending Corporation but cleared them of a syndicated estafa allegation, according to a joint resolution dated Jan. 30, 2026.
The complaint was filed by investor Ma. Ivy V. Salgados, who says she placed a total of P125 million with PJH after being assured of guaranteed monthly interest and repayment on promissory notes and postdated checks. Salgados alleged that beginning June 2024, 26 postdated checks issued in her favor were dishonored by the drawee bank for “Drawn Against Insufficient Funds” (DAIF). The prosecutor’s report lists the total value of the checks at roughly P48.91 million.
Prosecutors identified the signatories on the 26 checks as PJH President Canuto T. Barte Jr. and General Manager/Corporate Secretary Rosalie C. Farley. The resolution says both admitted signing the checks and did not deny their signatures; their roles and the checks’ dishonor gave rise to the prima facie presumption of knowledge of insufficient funds under B.P. Blg. 22. The office recommended that information for the 26 dishonored checks be filed in court against Barte and Farley.
Other individuals named in the complaint — Oliver Guy Twitchett, Gillia Jane Twitchett and Romulo Canlom — were not charged in connection with the bounced checks. Prosecutors said there was no evidence tying them to any overt act in issuing the checks, so liability could not be attributed to them for B.P. Blg. 22.
Respondents denied wrongdoing, arguing that many of the disputed investments and payments involved a third party, Jimly M. Friedrichs, and that transfers and cash payments had been made. PJH later filed a civil case seeking a judicial declaration of nullity of the promissory notes and checks; the respondents also sought suspension of criminal proceedings on grounds of a prejudicial question, a motion prosecutors declined to accept as dispositive.
The joint resolution recommending filing of criminal information was prepared by Senior Assistant City Prosecutor Naruzen J. Delfin-Lorete and forwarded for review by Assistant City Prosecutor Daphne S. Andal-Degoma. The next step is for the prosecution to file the recommended information in court, where the accused may respond and the factual disputes— including the effect of the pending civil litigation— will be litigated.
Representatives of PJH Lending could not immediately be reached for comment.Complainant Salgados is presently represented by Atty. Jordan Pizarras of the Ayala Avenue law firm of Pizarras, Flores and Subia. (SPONSORED CONTENT)
