Globe
Asiatique Realty Holdings Corporation or "GA" was allegedly plagued
with intrigue and the company was accused of deceit and unfair
trade practice in sale of the properties in which Home Development
Mutual
Fund (HMDF) or most commonly as Pag-IBIG was defrauded of worth P 7
billion pesos using existing Pag-Ibig members who were coerced to loan a
property that they did not intend to purchase a property from 2008 to
2010 but were given compensation for the use of their accounts for
alleged fraudulent schemes. Mr. Delfin denied allegations of wrongdoing
of him and his company after complaints were received from government
agencies particularly Home Mutual Development Fund (Pag-IBIG Fund) and
with then former chairman of Housing and Urban Development Coordinating
Council Chairman (HUDCC), former Vice President Jejomar Binay in 2014.
Transfer and Acquisition of the Real Estate Properties to RGV Group of Companies
In March 2020, Mr. Delfin Lee of Globe Asiatique Realty Holdings Corporation have formally turned over the remaining saleable units of the Xevera Subdivision projects in Bacolor and Mabalacat City Pampanga including Sameera Subdivision in Angeles City to RGV Group of Companies, headed by former representative, Rodolfo Valencia of Oriental Mindoro. Mr. Valencia is a successful businessman and a former politician in his home province of Oriental Mindoro. The said event marked a PhP 2.2 Billion deal between Home Mutual Development Fund (Pag-Ibig), Globe Asiatique Realty & Development Corporation and Xevera Westchester Realty Corporation (RGV Group of Companies) in a simple ceremony.
The
event also involves the turnover of transfer certificate of titles to
homeowners who have resided and have fully paid their previous obligations where formally distributed last October 2020.
With the transition of ownership from Globe Asiatique Realty Holdings to RGV Group of Companies, Rodolfo Valencia's group will infuse more than P 2.4 billion capital on the existing projects and developments of Xevera Communities in Bacolor, Pampanga and Mabalacat City including Sameera Angeles City that have been thriving in sales of its affordable pricing homes payable through Home Development Mutual Fund with its revitalization and repairs of the abandoned and neglected units by previous owners being rehabilitated into refurbished and almost new units being sold in the market by Westchester Xevera Realty Corporation, one of RGV company's real estate marketing arm.
GA
Skysuites Tower which was later acquired by Double Dragon Properties
and simply turned into The Skysuites Tower, a 38 story mixed used
residential and commercial high rise building in EDSA corner Quezon
Avenue, Quezon City. Other properties such as "The Enclave", a high-end
residential subdivision that introduced horizontal housing units with
condominium certificate of title for foreign buyers which particularly
targeted Koreans and Europeans located also in Angeles City was highly
successful in their marketing and felt little effect from the scandal of
greater magnitude. Most of the remaining units were foreclosed by
different banks and were auctioned off.
At present, Mr. Lee has remained free for over 3 years now. He was eventually released from the custody of Pampanga
Provincial Jail in 27th of September 2018 after the Supreme Court downgraded
his case from syndicated estafa to simple estafa and had served time
for the crime he had committed. He mentioned in his last interview that
he had learned a lot from his experience during his imprisonment
that made a great impact on his personal life's disposition today.
Sources:
Realty firm takes over 3 neglected housing projects in Pampanga
What Went Before: Globe Asiatique housing scam
#CJSearch: How chief justice applicants voted on P7-B Delfin Lee scam
SC downgrades charges vs Delfin Lee to simple estafa
VP Binay says Delfin Lee Should Only Blame Himself
PAMPANGA COURT ISSUES HDO VS DELFIN LEE, CO-ACCUSED (Posted: April 4, 2013)
About the Writer
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