MANILA - The Department of Justice (DOJ) has wrapped up the preliminary investigation into estafa charges against a former employee of the Philippine Stock Exchange (PSE) who has allegedly pocketed an estimated P300-million worth of investors' money.
The complaint filed by Joyce Lim Haw against Jose Cecilio Peñaflor, former Assistant Head for Marketing Education of the PSE, and his brother, Angelo, is now submitted for resolution, according to handling fiscal Assistant State Prosecutor Rodan Parocha.
Haw opted not to file a rejoinder affidavit after the respondents submitted their counter-affidavits.
Haw's complaint states that she lost P10-million to Peñaflor who had allegedly promised his "victims" stock allocations that are difficult to obtain, and allegedly offered these stocks at huge discounts and high guaranteed returns within days upon "reservation."
Peñaflor was arrested by the National Bureau of Investigation (NBI) last February 16 following a separate similar complaint. He was subjected to inquest proceedings but was later dismissed due to insufficiency of evidence.
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The PSE issued an advisory in December 2015, warning the public against dealing with Peñaflor.
Peñaflor has not been connected with the PSE since 2013.