THE lower court of Tagum City has found the officers of Tagum City-based Rigen Wellness Product Marketing guilty for their unauthorized investment-taking activities. The executives were also sentenced to life in prison for syndicated estafa.
Their co-accused—Rosenda Colorines Garcia, Christine Palijo, Romen Samuel Wabina and Jemeilyn Tacay—remain at large. “It has been held that where one states that the future profits or income of an enterprise shall be a certain sum, but he actually knows there will be none, or that they will be less than he represents, the statements constitute an actionable fraud where the hearer believes him and relies on the statement to his injury,” the court said.
Source: News Formal (newsformal.com)
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