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Davao City, Philippines

NCRPO arrests ex-treasurer accused of stealing P90M

July 16, 2019 - Tuesday 11:07 AM by MDM

Article Banner Image Photo courtesy of NCRPO

A man charged with qualified theft for allegedly stealing more than P90 million from a corporation of which he was a treasurer was arrested late last week in his residence in Ortigas Avenue, Mandaluyong.

National Capital Region Police Office (NCRPO) regional director Police Major General Guillermo Eleazar said the accused, identified as Billy Lim,  69, was arrested by virtue of a warrant of arrest with no bail recommended issued by Judge Nicanor A. Manalo Jr. of Regional Trial Court Branch 161, NCJR, Pasig City dated July 11, 2019.

Eleazar said Vincent Yu, representing the Fermentation Industries Corporation (FINCO),  personally appeared at the NCRPO Regional Special Operations Unit (RSOU) office and sought police assistance for the possible arrest of the accused.

Eleazar said case records showed that sometime in 2007, Lim, who was then a treasurer of FINCO, allegedly stole the corporation's funds amounting to P90,386,638.77 by transferring the amount from the investment account to his various accounts.

The accused was brought to RSOU office for proper documentation and disposition.

Eleazar commended the RSOU operatives for its prompt action.

"Ano mang klase ng krimen ay hindi palalampasin ng ating mga kapulisan. Alam ko na marami pa ang madadakip ng otoridad na mga Wanted Person sapagkat tumutulong at nagtitiwala ang ating mga kababayan. Makakaasa po kayo na kami ay aaksyon at hindi titigil upang mapagbayaran ng mga nagkasala sa batas ang kanilang mga kasalanan,” he said.