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Ralph Lito W. Lopez Vs. People of the Philippines

RALPH LITO W. LOPEZ, Petitioner, - versus - PEOPLE OF THE PHILIPPINES, Respondent.

G.R. No. 199294 | 2013-07-31

SECOND DIVISION
 
DECISION

CARPIO, J.:

The Case

We review 1 the ruling 2 of the Court of Appeals affirming petitioner’s conviction for estafa.

The Facts

Petitioner Ralph Lito W. Lopez (petitioner) was President and Chief Executive Officer (CEO) of Priinelink Properties and Development Corporation (Primelink), a real estate developer. On 4 July 1996, Primelink entered into a Joint Venture Agreement (Agreement) with Pamana Island I Resort Hotel and Marina Club, Inc. (Pamana) to develop a P60 million exclusive residential resort with marina (Subic Island Residential Marina and Yacht Club [Club]), on a 15,000...