Home News Cagayan Valley Cagayan Cagayan vice mayor faces P12-M estafa charges

Cagayan vice mayor faces P12-M estafa charges

2 min read

TUGUEGARAO CITY, Philippines- The vice mayor of Solana town in Cagayan province is facing a P12-million estafa case over a corn deal he personally made in 2013.

The Regional Trial Court Branch 17 in this city issued an arrest warrant against Vice Mayor Meynard Carag for the estafa charges filed by Mindanao Grains Processing Corp. (MGPC).

The court, after evaluating the resolution of the Isabela provincial prosecutor, said they found probable cause to indict Carag.

MGPC, a milling company based in Isabela province, accused Carag of “unfaithfulness or abuse of confidence” by misappropriating the P12.2 million cash entrusted to him.

Carag allegedly entered into a P15-million deal with MGPC in 2013 but had only delivered P2.75 million worth of corn. The MGPC claimed they made a P13 million cash advance to Carag.

They said Carag’s initial delivery of corn was not followed up “despite repeated demands.”

In his counter-affidavit, Carag claimed that he did not receive the money “in trust” or “on commission or for administration” neither under any obligation to deliver or return the money. Northernforum.net

Load More Related Articles
Load More In Cagayan

Leave a Reply

Check Also

PNP nabs man extorting cash for PO1 recruitment in Cagayan

TUGUEGARAO CITY,Philippines- A man who allegedly asked an applicant for P100,000 cash for …