MANILA, Philippines - The Department of Justice (DOJ) has formally dismissed the syndicated estafa charge filed last July by San Miguel chief Ramon Ang against top executives of broadcast giant GMA Network for their alleged failure to return the P1-billion down payment he paid for the botched buy-out of the network.
The DOJ dismissed the complaint after both parties reached a settlement and GMA chairman and chief executive officer Felipe Gozon agreed to return the downpayment.
“In view of the filing of the withdrawal of complaint by complainant, we resolve to dismiss the instant complaint,” the resolution stated.
The DOJ resolution was signed by assistant state prosecutors Rassendell Rex Gingoyon, Bryan Jacinto Cacha and Cesar Angelo Chavez III. It was approved by senior deputy state prosecutor Pedrito Rances and prosecutor general Claro Arellano.
In his complaint, Ang accused Gozon and eight other executives of the Network of violating Presidential Decree 1689 and Article 315 of the Revised Penal Code.
Also charged with the same non-bailable offense were Anna Teresa Gozon-Abrogar and Ismael Augusto Gozon of FLG Management Corp; GMA stockholders Belinda Madrid, Ma. Erlinda Gana, Jaime Javier Gana, Florencia Gozon Tarriela, Edgar Tarriela and Tricia Valderrama.
“The respondents converted and misappropriated the P1 billion by refusing to return it to the complainant, despite demand and even though it is very clear that the transaction documentation were not agreed, concluded, finalized or executed within the exclusivity period, and that the sale shares closing will not happen,” the complaint said.
Ang, president and chief operating officer of business conglomerate San Miguel Corp., did not include in his complaint the other stockholders of GMA – Menardo Jimenez Sr. and Gilberto Duavit Jr. – citing their earlier promise to return his downpayment.