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[4/6] RP vs. Sandiganbayan (1st Div.), et al.

[4/6] REPUBLIC OF THE PHILIPPINES, petitioner, vs. SANDIGANBAYAN (First Division), MARIA CLARA LOBREGAT, BIENVENIDO MARQUEZ, CELESTINO SABATE, JOSE R. ELEAZAR, JR., DOMINGO ESPINA, JOSE GOMEZ, MANUEL DEL ROSARIO, JOSE MARTINEZ, JR., JOSE REYNALDO MORENTE, ELADIO CHATTO, and PHILIPPINE COCONUT PRODUCERS FEDERATION, INC., respondents

G.R. No. 96073 | 1995-01-23

B. Dummy Ownership of

Dutch Boy Shares of Stock

The same pattern of masked ownership is prima facie divulged by the record in respect of a substantial cluster of shares of stock of Dutch Boy Philippines, Inc. The latter's books show ownership of 42,232 Dutch Boy shares in the name of Traders Holdings & Marketing Corporation (Traders), said block of shares constituting 37% of the total outstanding capital stock of Dutch Boy Philippines, Inc. The entire capital stock of Traders (100%) appears in turn to be owned by Reddee Developers, Inc. (RDI).

RDI is another corporation sequestered by the PCGG on the theory that it is one of many dummy...