BEVERLY HILLS, Calif. and COSTA MESA, Calif., July 31, 2017 (GLOBE NEWSWIRE) — TOMI Environmental Solutions, Inc. (“TOMI”) (OTCQX:TOMZ) and Astro Pak Corporation (“Astro Pak”) announced today they have settled their litigation relating to TOMI’s patents and intellectual property rights. The parties have agreed that TOMI is the sole owner of ionized hydrogen peroxide decontamination […]
The independent Data and Safety Monitoring Board (DSMB) reviewed safety and efficacy data, of which RedHill remains blinded, from the first 222 subjects who have completed week 26 assessments in the Phase III MAP US study To date, over 300 of the planned 410 subjects, have been randomized in the Phase III MAP US study […]
MANILA– MalacaAang on Monday branded as hearsay a report alleging that bodies of drug suspects were being dumped in Manila Bay. On Friday, Qatar-based news network Al Jazeera published a report quoting a Filipino fisherman as saying that he and his bu…
MANILA� The Department of Justice is set to submit for resolution on the PHP50 million estafa complaint filed by infrastructure unit of the San Miguel Corporation against Indonesian businessman Shadik Wahono and his company for allegedly defrauding the conglomerate of PHP50 million as well as misrepresenting himself as the owner of a corporate acquisition target.
During the preliminary investigation on Monday, the legal counsel of Wahono submitted his counter affidavit on the criminal complaint filed San Miguel Holdings Corporation (SMHC).
Senior Assistant State Prosecutor Ma. Emilia Victoria, who received the counter affidavit, said SMHC manifested during the hearing that it would no longer file its rejoinder to Wahono’s counter-affidavit, prompting her to submit the case for resolution.
In its complaint, SMHC accused Wahono of misrepresenting his company, PT Citra Lamtoro Gung Persada (CLGP), as the legal owner of Citra Central Expressway Corp (CCEC) shares that it acquired.
SMHC argued that CLGP cannot be the legal and beneficial owner of such shares since the subscription price was actually paid for by Citra Metro Manila Tollways Corp. (CMMTC) funds of which SMHC was also a beneficial owner at that time.
Aside from estafa, Wahono is also facing a qualified theft case before theRegional Trial Court of Marikina City for allegedly causing CMMTC, which was jointly owned then by the SMHC and Wahono, to make an unauthorized disbursement which he then used to incorporate another company called CCEC.
SMHC alleged that the transfer of money was listed as a loan from CMMTC to Wahono’s PT Citra Lamtoro Gung Persad (CLGP), for the incorporation of CCEC.
According to SMHC, Wahono and his co-accused did not notify the CMMTC board and shareholders about the loan which, consequently, did not have board approval. The company pointed out that CMMTC was, in fact, expressly barred by its contractual obligations from extending any form of loan.
SMHC said that because Wahono and company kept the unauthorized disbursement secret, it was duped into paying the Indonesian businessman and his partners the same amount of money that it illegally disbursed from CMMTC when SMHC subsequently bought into CCEC.
Source: Philippine News Agency
MANILA– The Sandiganbayan has dismissed the motion to quash graft charges of former Caloocan City Mayor Enrico “Recom” Echiverri in connection with the PHP1.9-million drainage system project he implemented in 2011. In a 15-page resolution written by A…
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