Pawnshop owner sues ex-ABC head

CEBU – A Cebuano businessman engaged in the buy and sell of precious metals has filed an estafa complaint with the Cebu City Prosecutor’s Office against the former president of the Association of Barangay Councils of Masbate for the latter’s alleged failure to pay over P2 million worth of chemicals and equipment.

Mark Yu, also the owner of the Gemmary Pawnshop chain, alleged that Dionnie S. Lopez, chairman of the Aroroy Small-scale Miners Cooperative in Aroroy, Masbate, refused to pay the amount despite repeated demands.

Their business dealings reportedly started when he provided Lopez necessities for mining such chemicals like borax, hydrated lime, and activated carbon, among others, and equipment such as a five horse power drive compressor and MS plate.

Yu said he secured the chemicals and equipment from his friends who supply these items and the Trust Receipt Agreement dated April 20, 2005 totaling P2,794,700 would reportedly prove that Lopez had received the items. 

The said agreement reportedly stipulates that the payment must be made on April 20, 2006. However, Lopez allegedly still failed to pay despite several demands.

Yu said he sent Lopez the final demand last September 19 for the April 20, 2005 Trust Receipt Agreement. This agreement is reportedly just one of the several agreements between them.

Instead of paying the obligation, Yu said Lopez even sent him a text message challenging him to bring the matter to the court.

"He would always assure me that everything is alright and that payments will come in due time and he would take care of it,” Yu said in his complaint. – Mitchelle L. Palaubsanon/JMO (THE FREEMAN)