Following the controversial mauling incident against actor Vhong Navarro, businessman Cedric Lee faces another suit, this time over anomalous use of bank loans.
Sandiganbayan filed a malversation complaint on Monday for the alleged anomalous use of P37.562 million for the construction of a public market in Bataan.
The Office of the Ombudsman said former Mariveles mayor Angel Peliglorio Jr. conspired with Less as President and CEO of Izumo Contractors Inc by authorizing the release of P23.47 million bank loan proceeds to Lee’s company on March 27, 20015.
The latter allegedly requested the amount even without procedural safeguards, guarantee of performance and in violation of audit rules.
While another separate amount of P14.056 million in bank loans was releases on March 27, 2005 and was the subject of a separate graft complaint, while still involving the same project.
According to the complaints, the implementation of the construction of Mariveles public market to which the amounts were advance paid has never commenced.
Lee and Peliglorio violated Article 217 of the Revised Penal Code for misappropriation or malverstion of public funds due to abandonment or negligence.
The businessman with Deniece Cornejo are out of bail from serious illegal detention charges after Navarro filled the case.
H/T: Inquirer.net; and photo.
