CA upholds Baladjay associate’s conviction for estafa

MANILA, Philippines - The Court of Appeals (CA) has upheld the conviction of a former counselor of Multinational Telecommunications Investors Corp. (Multitel), the firm of convicted pyramid scam queen Rosario Baladjay.

In an 18-page decision released last week, the CA’s fifth division affirmed an earlier verdict handed down by Las Piñas City regional trial court (RTC) finding Jeannie Boado guilty of estafa.

It dismissed the petition of Boado seeking the reversal of the lower court’s findings.

The CA also ordered Boado to pay complainant Marigold Alcantara P4.8 million in damages plus additional legal interest of six percent per annum from the time the case was filed until the final judgment.

It agreed with the RTC that all elements of estafa were present to warrant the conviction of Boado.

“Complainant suffered damage such that she was not able to continue using her hard-earned money considering that the amount collected and received by appellant have not been returned to her,” read the decision penned by Associate Justice Ricardo Rosario.

Associate Justice Rosmari Carandang and Leoncio Real-Dimagiba concurred with the decision.

Alcantara is among the victims of the pyramid scam perpetrated by Baladjay and her firm. She was recruited by Boado, a close friend, and subsequently invested P4.93 million in Multitel.

When Alcantara deposited the checks given to her by Boado, the checks bounced as the account was already closed, prompting Alcantara to file a complaint against Boado and Baladjay.

In the lower court ruling, both Boado and Baladjay were found guilty of estafa. But the CA only ruled on Boado’s case since the petition did not cover Baladjay.