In May 2004, the Sandiganbayan had ruled that the cases were beyond its jurisdiction since the RSBS was a private company.
But in an 11-page resolution, the court reversed its earlier position.
"Indeed, there is no clearer showing of the character of the AFP-RSBS as a government-owned or -controlled corporation than the fact that it is the Office of the Government Corporate Counsel which has been assisting and representing the AFP-RSBS in these cases," the court said.
Justices Edilberto Sandoval, Francisco Villaruz and Efren dela Cruz of the second division of the Sandiganbayan ordered the re-indictment of lawyers Meinrado Enrique Bello, Julian Alzaga and Manuel Satuito.
Alzaga is a former vice president of the AFP-RSBS, while Satuito is a former assistant vice president.
The justices issued the new ruling after prosecutors filed an appeal before the Supreme Court, which had ruled that the operations of the AFP-RSBS were "public in nature."
"We have reason to take a second look at the correctness of our conclusion in the questioned resolution as, apparently, the (Sandiganbayan) has inadvertently overlooked certain details that would otherwise lead us to a different conclusion," the justices said.
The RSBS is funded by the contributions of military officers and enlisted personnel.
The cases against Bello, Alzaga and Satuito stem from their having released money for the acquisition of land without the proper legal documentation.
In the case filed by his office against them, Ombudsman Simeon Marcelo found irregularities in the Deeds of Sale used in the purchase of lots in Batangas and other provinces. — Delon Porcalla