PHA says two employees indicted for estafa




The Manila Times

Corporate News

PREMIERE Horizon Alliance Corp. (PHA) announced that the Pasig City Prosecutor’s Office has formally charged Marvin de la Cruz, chairman and chief executive officer of Squidpay Technology Inc., and PHA board director member Augusto Antonio Serafica Jr. with estafa. According to the firm, the information was relayed to them by their external retained counsel and that the court is moving forward with the case. “With regards to the criminal complaint filed by Premiere Horizon Alliance Corp. (PHA) against Augusto Antonio C. Serafica Jr. and Marvin C. dela Cruz, subject of the corporation’s disclosure dated Dec. 6, 2022 on Jan. 20 2023, PHA was informed by its external retained counsel that the Office of the City Prosecutor of Pasig City has issued its resolution dated Dec. 28, 2022 finding probable cause to indict and bind for trial Messrs. Serafica Jr. and Dela Cruz for the crime of estafa under Article 315 (1)(b) of the Revised Penal Code,” PHA stated. It added that accordingly, the corresponding information regarding the matter was raffled to Branch 155 of the Regional Trial Court of Pasig City on Jan. 19, 2023. The case, “People of the Philippines versus Augusto Antonio C. Serafica Jr. and Marvin C. Dela Cruz,” was docketed as R-PSG-23-00208-CR. On Dec. 6, 2022, PHA filed the said criminal complaint against Serafica Jr. and de la Cruz for the alleged misappropriation of around P32 million in corporate funds in connection with a Bonifacio Global City project.