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Ex-Finance execs in tax credit scam convicted of graft, estafa

At last three former officials of the Department of Finance (DOF) and two private individuals were convicted of graft and estafa by the Sandiganbayan over a tax credit scam that cost government P18.8 million in damages.

In a decision promulgated by the Fifth Division of the anti-graft court on Monday, the following officials of the DOF’s One Stop Shop-Inter Agency Tax Credit and Duty Drawback Center were convicted–Deputy executive director Uldarico Andutan Jr., Supervising Tax Specialist Raul De Vera, and Senior Tax Specialist Rosanna Diala.

Also convicted for conspiring with the finance officials are Mukesh Uttamchandani and Olivia Demetrio, owner/proprietor and manager of Precision Garments International (PGI), respectively.

They were convicted for granting P27.8 million in tax credits to PGI in 1998 even though it submitted spurious documents which allowed the company to sell its tax credit to Steel Asia Manufacturing Corp.

Meanwhile, the court suspended its resolution on the case against former Finance Undersecretary Antonio Belicena, whose cases were archived as he was incompetent to stand trial due to dementia, a disease associated with old age. CDG

READ: Tax credit cases take too long–dementia hits accused

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