Ramon Ang files estafa complaint vs. Gozon Group over GMA Network purchase

Business mogul Ramon Ang has filed complaints of syndicated estafa and estafa against GMA Network chairman and CEO Felipe L. Gozon and several others over failed talks to buy a minority share in the broadcast company.

 

Apart from Gozon, also named respondents were Felipe Gozon Jr., Anna Teresa Gozon-Abrogar, Ismael Augusto Gozon, Belinda Madrid, Ma. Erlinda Gana, Jaime Javier Gana, Florencia Gozon Tarriela, Edgar Tarriela, and Tricia Valderrama for the case.

 

The case stems from a P1 billion downpayment allegedly made by Ang for the purchase of 32 percent of shares of stocks in GMA Network.

 

"The Buyer never agreed that the P1 billion would serve as some kind of surety fund or security deposit from which the Gozon Group can take or deduct the damages it will claim against the Buyer," read the complaint.

 

The Gozon Group said it could not comment on the case as it has not received a copy of the complaint yet.

 

In his complaint, Ang said he deposited P1 billion as downpayment for the purchase. The amount, according to Ang, was deposited through a check made payable to the GMA Network chairman, with the agreement that it was held in trust for the company's major shareholders — the Gozon, Jimenez, and Duavit Groups.

 

No members of the Jimenez and Duavit Groups were included in the complaint.

 

Ang said he negotiated in good faith with the groups but they were unable to agree, finalize, conclude, and execute the transaction by the end of the exclusivity period.

 

"The P1 billion should have been returned to the complainant within three working days from the expiration of the exclusivity period [on November 15, 2014]… As early as November 19, 2014, the downpayment of P1 billion should have already been returned by the sellers to the buyer even without demand from buyer," read the complaint. —Mark Merueñas/JST, GMA News