Valenzuela businessman sent to jail

The Valenzuela City Regional Trial Court sentenced a 61- year-old businessman to 17 years in prison for estafa related to a P350,000 loan he obtained four years ago in Arkong Bato, Valenzuela.

In his three page decision, RTC Branch 172 Judge Floro Alejo also ordered Jose Bernardo, a resident of Arkong Bato, to pay his creditor P1.2 million representing the principal, interests and other charges.

Bernardo was found guilty of estafa through falsification of public documents.

Court records show that Bernardo obtained a P150,000 loan from Artemio Pacheo, 48, on Nov. 15, 1996, and used a fake land title to serve as collateral.

Bernardo was supposed to pay the loan within two months at five percent monthly interest. But on Dec. 27 of the same year, he acquired another P200,000 loan from Pacheo, mortgaging the same property.

The two-month payment period expired and Bernardo failed to pay his debt. Pacheo tried to take over Bernardo’s property, but found that the land title was fake.

The victim filed charges of estafa against Bernardo after he ignored several requests by Pacheo for him to pay the loans.

According to the court, the defense did not even bother to present any evidence against the prosecution.

Judge Alejo said that Bernardo "deceitfully represented himself to be the owner of the land," and that "the certificate of title was spurious." – Matthew Estabillo