Sobrepeña firm faces malversation raps
MANILA, Philippines—The Sobrepeña-led Camp John Hay Development Corp. (CJHDevCo) may be liable for malversation of public funds, following its own alleged admission of redirecting funds, the Bases Conversion and Development Authority (BCDA) said on Friday.
In a statement, BCDA cited the letter signed by executive vice president and chief operating officer Alfredo R. Yñiguez III informing the state agency that funds that were supposed to be due to the unit owners of the Camp John Hay Manor, were used to pay its suppliers in 2009.
In the same letter, Yñiguez also allegedly informed the BCDA of their intention to pay half of it before the end of 2010.
The letter was already admitted as evidence in a case filed against CJHDevCo officials Robert John Sobrepeña, Ferdinand Santos, Alfredo Yñiguez III and Emily Roces-Falco at the Baguio City Regional Trial Court Branch 6 last month.
