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Manila Bulletin devider Philippines devider National devider Solon lauds DOJ resolution charging agri-business group with syndicated estafa

Solon lauds DOJ resolution charging agri-business group with syndicated estafa

Published Mar 22, 2021 01:12 pm

Magsasaka Partylist Rep. Argel Cabatbat welcomed Monday, March 22 the Department of Justice resolution for the filing of syndicated estafa charges against officers of a so-called sub-farm business that turned out to be a fraudulent money-making venture.

(MANILA BULLETIN FILE PHOTO)

Cabatbat has filed House Resolution 1393 calling on the House of Representatives to investigate in aid of legislation the alleged illegal schemes of Solomon “Dexter” Villamin, CEO of DV Boer Inc that enticed victims to an agribusiness investment scam.

“Promised benefits of these programs never materialized,” said Cabatbat.

In  a resolution issued recently, the DOJ, through the Office of the Prosecutor of Candon City, Ilocos Sur, recommended the filing of a criminal information against Villamin and four other persons for syndicated estafa.

The complaint was filed by Jayson Molina, an overseas Filipino workers based in Singapore who claimed that he shelled out P6.55 million to DV Boer for a supposed return of investment of 30 percent per annum.

Molina said  that in 2017 he was offered by Villamin to invest in the sub-farm scheme that would replicate the latter’s farm in Batangas.

From 2017 to 2018, complainant remitted millions, which was far from the initial plan laid out by the DV Boer team.

Molina recounted that  costs piled up because of new programs he was required to participate and invest in, all under the claim that this is the standard procedure for the sub-farms or paiwi system. 

In a resolution released by the DOJ’s National Prosecution Service, Assistant City Prosecutor Windel Almoite Basabas recommended the filing of criminal charges against Lovely Corpuz, Krizza Aguilar, Joselyn Villamin, Rosalyn Alvarez-Casihan and Villamin before the Regional Trial Court of Candon City, Ilocos Sur.

Basabas noted in his resolution that “there is clearly a false representation as to the business of the corporation” and that the “contract was only executed to give a legal semblance to an otherwise web of illegal schemes of the respondents to extract funds from innocent investors.”

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