Mañosa heirs sued over failed real estate project

MANILA, Philippines — The heirs of the late National Artist Francisco “Bobby” Mañosa have been sued by scions of prominent families and some government agencies for allegedly defrauding them of over P600 million in connection with a failed real estate project in Alabang Hills in Muntinlupa City. 

Documents obtained by The STAR showed that 26 individuals, private companies, banks and a government agency are seeking payment or suing siblings Francisco “Dino” Mañosa Jr., Denise Mañosa, Angela Milagros Mañosa, Miguel Angelo Mañosa and Ma. Isabel Mañosa Tanjutco for a total of P626.2 million in connection with the “Anahaw Park project” in Alabang Hills subdivision.

One case involved Marisol Ramirez, who filed a criminal complaint for syndicated estafa last Sept. 13 against the Mañosas, who allegedly reneged on their agreement with her after she invested P50 million in May 2017 for what the siblings claimed was a high-end residential project. 

Ramirez, a scion of a prominent business clan, first met the Mañosa family in 2011 and considered them as a close family friend, and went on trips with them before the troubles started. 

In her complaint affidavit filed before the Muntinlupa City prosecutor’s office, Ramirez said Dino told her she would have to invest P50 million, and after a two-year period, she would have two options to take as return on investment – purchase two houses in the project at a 15 percent discount or claim eight percent interest in the sum of P58 million. 

Dino, she said, told her the clientele of the project would be individuals with high net worth and the structures single-detached houses designed by his siblings Isabel and Angelo.

The “investment” contract was with the Mañosa Properties Inc. (MPI) which, Dino allegedly told her, was a family corporation that owns and manages the Anahaw project. 

Sometime in late 2018, Ramirez had been hearing rumors about the project having difficulties meeting construction deadlines and paying suppliers, and that MPI was in dispute with the Alabang Hills’ homeowners group. She, however, was assured by Dino that things were manageable.

Things came to head on May 22 during a meeting between Ramirez’s friend and Dino where the latter allegedly failed to give a detailed accounting of where the investment was used, admitted that the project has not yet started, and that the registered owner of lots was a different company – Mañosa Farmstay Inc.

 Several days before, Ramirez received a letter from Dino telling her that her investment could not be returned due to an “unforeseen position.” 

Dino in a letter on May 27 offered her instead 25 percent of his share in another property in Laguna worth P1 million.

“Enraged and insulted” by the offer, Ramirez sent a final demand letter on May 29, reiterating her right to avail herself of the second option under the investment agreement.

Conducting her own investigation, she found out the village association did not consent to the project, and that MPI was not authorized to solicit investments under the Securities Regulation Code.

When Ramirez sought the help of Isabel and Angelo, the siblings denied any knowledge of their brother’s dealings.

Ramirez also found out the MPI filed a petition for rehabilitation for being unable to pay its debts. The petition listed her as one of the creditors/investors in a list of MPI projects, of which there was no mention of Anahaw Park.

The Mañosas were scheduled to submit their counter-affidavits last Nov. 4.