Posts tagged ‘Victor Basa’

The One Who Got Away?


Two sides of a controversy:  Globeasiatique housing scam victims and socialite Divine Lee

 

 

Before I am going to say my final piece on socialite Divine Lee and her company, Globe Asiatique, I want the readers to get an honest-to-goodness backgrounder as reported by the credible Philippine media:

 

The company in question:

Globe Asiatique (GA) is the brain child of Delfin Lee, who is once dubbed by his friends as the “Donald Trump of the Philippines” and who has looked up to SM mall magnate Henry Sy. He has aspired to make (GA)  the “SM of Philippine housing.” He was described as natural entrepreneur with the guts and appetite for risk. He transformed a previous wilderness in lahar-covered village in Pampanga into what could have been a bustling cosmopolitan community called Xevera.  At the core of his business model is a housing product that is affordable but addresses the cultural needs of a community. A typical “township” product, such as the Xevera brand in Pampanga, have top-line features like a school, church, town hall, a wet and dry market, a clubhouse with an Olympic-size swimming pool, commercial areas, an amusement park, and a 3-hectare eco park.  (source: http://www.rappler.com/business/5798-arrest-warrant-out-vs-delfin-lee-of-ga-housing-mess).

For an extensive reading on Globe Asiatique, Delfin Lee and his children Divine and Dexter, go to : http://www.philstar.com/Article.aspx?articleId=532239.

 

 

The crime charged:  Double Selling

The 12 Billion Peso Question.  The Globe Asiatique scandal.

 

ABS-CBN quoted Vice President Jejomar Binay (who serves as the chairman of the Housing and Urban Development Coordinating Council and the Pag-IBIG Board of Trustees): “GA defrauded the ordinary workers who are contributors of Pag-IBIG Fund. The company defrauded hardworking citizens of Pampanga by selling property they already purchased legitimately to other buyers, a practice known as double selling. The issuance of the warrants of arrest against Delfin Lee and his co-accused just shows that the law is on the side of the ordinary workers duped by Globe Asiatique.  (source: http://www.abs-cbnnews.com/business/05/23/12/arrest-warrant-out-globe-asiatiques-delfin-lee)

Developer Globe Asiatique used a modified version of the Ponzi scheme to cheat the state housing agency Home Development Mutual Fund or Pag-IBIG Fund out of P6.6 billion in loans, chief executive Darlene Marie Berberabe says in a report.
A Ponzi scheme is fraudulent investment operation that pays returns to separate investors—not from any actual profit earned by the organization but from their own money or money paid by subsequent investors. It always collapses.
The scheme is named after Charles Ponzi, who became notorious for using the technique in early 1920.
In her report to Vice President Jejomar Binay, chairman of the Housing and Urban Development Coordinating Council, Berberabe says Legacy Group owner Celso de los Angeles paid fake borrowers to become “instant” Pag-IBIG members eligible for housing loans, but the borrowers had no intention of buying De los Angeles’ Xevera housing units.
“Since the transaction purportedly involves the borrowing of money for the purchase of housing units, the proceeds necessarily went to Globe Asiatique,” Berberabe said.
“As the buyers are fakes, not a single loan amortization is paid by them. Amortizations are actually paid by Globe Asiatique. This is a fact admitted by Mr. Delfin Lee, Globe Asiatique’s president.”
Berberabe says Globe Asiatique exerted “painstaking efforts” to maintain all of its accounts in Xevera current, resulting in a 99-percent performing accounts ratio. That made it impossible to detect the fraud early.
In October 2010 Binay ordered Pag-IBIG to blacklist Globe Asiatique to stop the company from securing more housing loans from the agency.
“After Pag-IBIG Fund stopped taking out housing loans for Globe Asiatique, its PAR value drastically dropped and now stands at a measly 20 percent,” Berberabe said.
“This is further proof of the fictitiousness of the great majority of Globe Asiatique’s borrowers. The loan proceeds from Pag-IBIG are the same moneys being used to service the accounts.” (source: http://donavictorina.blogspot.com/2011/04/globe-asiatic-operated-ponzi-scam-pag.html).

 

 

Case Status Update

Delfin Lee. From Donald Trump of the the Philippines to a high profile fugitive

 

Warrant of arrests were issued against  GA  Delfin Lee, his son Dexter Lee, GA’s chief financial office and three officers of Lee’s Globe Asiatique Realty Holdings Corp. for syndicated estafa in connection with the P7-billion “ghost borrowers” housing loan scandal.  The Lee father and son, Christina Sagun, Cristina Salagan and lawyer Alex Alvarez were ordered arrested by Judge Maria Amifaith Fider-Reyes of the Regional Trial Court (RTC) Branch 42 after the judge found probable cause in a syndicated estafa case filed against them in connection with Globe Asiatique’s Xevera housing projects in Bacolor and Mabalacat towns in Pampanga.

Reyes did not recommend any bail for the Globe Asiatique officers who were sued by several home buyers and the state-run Home Development Mutual Fund (Pag-Ibig Fund) for allegedly conspiring in the irregular use of P7.03 billion worth of housing loans obtained by unqualified Pag-Ibig Fund members between 2008 and 2010, the so-called “ghost borrowers” who bought homes in Globe Asiatique’s Pampanga housing projects. (source: http://newsinfo.inquirer.net/199401/arrest-warrant-out-for-delfin-lee).

And if we are to believe the late (great) Department of Interior and Local Government (DILG) Secretary Jesse Robredo believed that Delfin Lee and his cohorts have already fled the country stating that “with his money and connections in the Bureau of Immigration it is highly possible that Lee could have boarded an outward-bound flight at the Ninoy Aquino International Airport, even if there was an existing Hold Departure Order issued against him by a judge, to avoid being held accountable by authorities for the much-publicized multibillion-peso Globe Asiatique (GA) scam.” (source: http://www.tribune.net.ph/index.php/commentary/item/1417-fugitive-delfin-lee-already-abroad-—-robredo).

In August 2012, President Benigno “Pnoy” Aquino has offered P 2 milllion reward for information that will lead to the arrest of Globe Asiatique owner Delfin Lee and classified him a  high-profile fugitive.

 

GA’s side of the story

Solid defense?  No filing fee, No case?

 

GA lawyer Willy Rivera said his client’s accusers failed to pay a P132-million filing fee in the case against the latter.    Rivera also said he has asked the court to dismiss the criminal complaint against Lee, noting that a similar civil case against his client had already been dismissed by a Makati City court.    “The criminal case should be dismissed because my client did not violate any contract. Globe Asiatique was merely the developer of Pag-Ibig. It just guaranteed the loans already approved by Pag-Ibig,” Rivera said. (source: http://punto.com.ph/News/Article/15293/Volume-6-No-42/Headlines/Delfin-Lee’s-lawyer-questions-arrest-warrant-sans-payment-of-filing-fee).

Okay.  Now that you have a basic idea about the case filed against  Delfin Lee and GA. Let us talk about why most observers say that her stylish daughter “got off the hook” and is “still alive and kicking” and tweeting as if nothing has happened.

 

 

Divine Lee’s participation in Globe Asiatique:

 

To give you a crystal clear idea what Divine Lee is doing at his father’s real estate company, I will led you straight to the the horse’s mouth.  In an exclusive interview, Divine has seemingly flaunted her in-depth participation in GA’s operation as VP for Marketing and Sales.   it seems that she worked hand-in-hand with his father and brother.  Just watch:

Grabe! Kaloka.  Ang yabang ni Divine.   This is express admission at its best!

 

Side of Divine Lee

Divine Lee.  Wala akong Alam (I don’t know anything). 

 

 

Airing her side on the issue, Divine Lee opted to turn to entertainment website, Pep.ph.   Speaking to PEP on Aug. 21, Divine said, “Ako kasi, since hindi naman ako parte ng kaso, at sabi nila, ‘Wala ka namang alam, you shouldn’t be… you can’t divulge anything, kasi wala ka namang alam.’” (Since I am not part of the case and they told me I have no knowledge so I cannot divulge anything). (source: http://www.mb.com.ph/articles/370780/amid-housing-loan-scam-divine-lee-opts-to-keep-going).

 

Why should Divine be likewise charged like his father?

 

While it is a basic legal tenet that only corporate officers shown to have participated in the alleged anomalous acts may be held criminally liable (Cruzvale vs. Eduque, et. al G.R. Nos. 172785-86,  June 18, 2009),  Divine Lee has clearly admitted to have actively participated in GA as head of marketing, meaning selling of its housing units.  As this the very crime being alleged, her self-serving pronouncements that she has no participation in the alleged double selling is probably an afterthought.  Following another  legal tenet, Divine Lee’s  counter-allegations are defenses that must be presented as evidence in the hearing of the criminal cases (Lee vs. People, G.R. No. 137914, December 4, 2002).  What is just needed is a finding of probable cause against Divine Lee – stated otherwise a reasonable cause that she has probably taken part in the alleged double sale activities of her company.  And since she is its Vice President for Sales and Marketing – it is reasonable to believe that she had participation in the alleged anomalous sales of real estate properties.  She should likewise be indicted for same charges as his father and brother.

 

 

Divine Lee’s current status.

 

Divine Lee and boy let Victor Basa.  Still living the high profile life.  

 

Despite the continued cries from GA housing scam victims to include Divine Lee in the criminal case against her father and brother, the Philippine Department of Justice has not yet come up with any charges against her.

 

 

As such, Divine Lee continues to make waves in the social scene as if the GA scandal has not happen or just a minute blimp on her schedule organizer.

She continues to tweet daily, date her boyfriend Victor Basa (who is rumored to be gay and living in with her)  and portray a classy image as an model, socialite, actress, and entrepreneur. (source:http://www.pinoyparazzi.com/victor-basa-at-divine-lee-nagli-live-in-na/).

Parang walang nangyari…(as if nothing has happened).

Two Broke Girls: Philippine Edition


Fiction and Fact.  Two Broke Girls Caroline Channing and Divine Lee

From the way its unfolding, the Philippines has its real life version of hit sitcom Two Broke Girls’ disgraced socialite Caroline Channing whose father Martin was caught in a billion dollar financial scam which landed him in jail.  Bit fashion model Divine Lee is in the same predicament although hers is real.  Her father real estate magnate Delfin Lee has been issued warrants of arrest for an alleged billion pesos housing scam which duped its real estate buyers.

Divine Lee who was portrayed by the Philippine high society media as a real estate heiress in the mold of Paris Hilton, a philanthropist who employs Typhoon Undoy victims, and a fashion and social entrepreneur who partners with the Philippine fashion and high society icons, is now being drawn into the controversy.  Several supposed victims  now want her head in the same basket as her dad’s.  These victims rationalize that for somebody who bannered herself as “Asst. VP for Marketing and Sales” in her father’s real estate company, how on earth can Divine Lee deny that she has no knowledge about the shenanigans that place them in hot water?

 

 

 

 

Birkins, Santorini and Victor Basa. High Class Lifestyle courtesy of Daddy?

Other observers also blame her for her high profile and scandalously uber rich lifestyle – those expensive Birkin croc bags, European holidays in Santorini and south of France, and having a beefcake of a boyfriend Victor Basa  just cannot go under the radar.  Nobody will believe that she can afford these luxuries with her tiny-winny  modeling career.

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