Businessman and Hotel Employee Indicted for P12 Million Estafa
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The Department of Justice-Pasay City Prosecutor’s Office has indicted businessman Lavish Mohan Paryani and resort hotel employee Reigna Reyes for estafa, accusing them of defrauding a company of P12 million.
Filed on 8 October 2024, the case led to an arrest warrant issued on October 11. Reyes was arrested by CIDG operatives, while Paryani remains at large and is the target of a police manhunt.
Charges stem from a complaint by RTI Inc., where billionaire Rajiv Chandiramani is a principal stockholder, alleging that the two swindled the company in a fraudulent business deal.
RTI, represented by corporate treasurer Maria Anita Turqueza, claimed that Paryani, a former trusted employee of the Chandiramani family, requested billionaire Rajiv Chandiramani to arrange a business meeting with RTI and Reyes.
On 4 April 2024, Paryani, Reyes, and RTI's corporate management met with directors of Ley Lahs 888 International Trading Inc. The respondents claimed ownership of Ley Lahs and presented purchase orders, purportedly showing legitimate business with a resort hotel, totaling P20 million in high-end electronics and home appliances.
They requested a P10 million loan from RTI, promising repayment within 90 days plus P2 million interest. To secure the loan, they issued a P12 million check. However, after receiving the loan, they cut off communication, and RTI discovered the check's associated bank account had been closed. The purchase orders were later revealed as fraudulent, prompting RTI to file a complaint.
In her counter-affidavit, Reyes denied being present at the April 4 meeting with RTI officials and disassociated herself from Ley Lahs. She insisted that she could not be held liable for estafa because she did not issue the dishonored check.
Paryani, on the other hand, failed to submit a counter-affidavit despite being served with a subpoena.
The city prosecutor ruled that the evidence presented by the complainant was sufficient to establish prima facie grounds to charge the respondents with estafa.
“It is the criminal fraud or deceit in the issuance of a check which is made punishable under the Revised Penal Code, and not the non-payment of a debt,” the resolution read.
The ruling added, “The postdating or issuance of a check in payment of an obligation, when the offender has no funds in the bank or insufficient funds to cover the amount of the check, constitutes false pretense or a fraudulent act."
