Son of accounting titan Washington SyCip ordered arrested for estafa

Son of accounting titan Washington SyCip ordered arrested for estafa

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Businessman George SyCip – son of renowned accountant Washington SyCip- was ordered arrested along with six other officers of Alliance International Inc. (Alliance) by the Makati City regional trial for estafa.

This as Makati RTC Branch 57 Judge Honorio E. Guanlao, Jr. junked their motion to quash for lack of merit.

Likewise ordered arrested were Alliance board of directors Jonathan Y. Dee, Alvin Y. Dee, Joanna Y. Dee-Laurel, Teresita S. Ladanga, Grace S. Dogillo and Arak Ratborihan.

Alliance was engaged in the business of manufacturing, canning, sale, importing and exporting of tuna and salmon

Bail was set at P120,000 each.

The late Washington SyCip co-founded accounting firm SGV & Co. in 1946.

Complainants Harvest All Investment Limited, Victory Fund Limited, Bondeast Private Limited, and Hedy S.C. Yap Chua, filed the case claiming that the respondents allegedly improperly used their investments.

According to the complainants, the respondents allegedly enticed them to invest their money in January 2009 amounting to more than P75 million by making them believe that Alliance was a financially rewarding company.

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