Back

Central Bank of the Phil vs. Court of Appeals, etal

CENTRAL BANK OF THE PHILIPPINES and THE PEOPLE OF THE PHILIPPINES, petitioners, vs. THE COURT OF APPEALS, FELIPE PLAZA CHUA and MELCHOR AVILA CHUA, respondents.

G.R. No. 41859 | 1989-03-08

D E C I S I O N


FERNAN, C.J.:

This is a special civil action for certiorari 1 under Rule 65 of the Rules of Court, seeking to annul and set aside the decision 2 of respondent Court of Appeals acquitting private respondents Felipe Plaza Chua and Melchor Avila Chua of the crime of estafa.

The antecedent facts are as follows:

On April 14, 1961, herein private respondents Felipe Plaza Chua and Melchor Avila Chua, father and son, were elected President and Treasurer, respectively, of the Surigao Development Bank, a private development bank, with a capital of P1 Million, duly subscribed and paid-up. Out of its total capitalization,...