On December 6, 2022, Premiere Horizon Alliance Corp. (“PHA”) filed a criminal complaint for estafa before the Pasig City Prosecutor’s Office against Messrs. Augusto Antonio C. Serafica, Jr. and Marvin C. Dela Cruz for the alleged misappropriation of the sum of Thirty Two Million Pesos (PHP32,000,000.00) in corporate funds in connection with a Bonifacio Global City Project. Mr. Serafica is currently a member of the PHA Board of Directors while Mr. Dela Cruz is a shareholder of PHA.
On 20 January 2023, PHA was informed by its external retained counsel that the Office of the City Prosecutor of Pasig City has issued its Resolution dated 28 December 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.
