A former executive of the premier roofing firm Jacintocolor Steel Inc. is facing charges of theft, cybercrime, and violations of the anti-bouncing check law following allegations of unauthorized acts of purchasing, disbursing, and forging documents to misappropriate company funds.
The respondent – identified as Sissie Bongat, former vice president and general manager of Jacintocolor Steel – has been charged with qualified theft and for violation of the Cybercrime Prevention Act of 2012 and Batas Pambansa 22 or the Anti-Bouncing Check Law.
Also charged with simple theft are her husband Christopher Bongat and son Charles Bongat.
The complaints, filed in October 2022, allege that Bongat, working with some local coil traders in a syndicated scheme, used the name and credit facilities of the company to purchase steel coil raw materials from foreign and local suppliers, which were then diverted and sold for their own benefit.
JacintoColor Steel company lawyer Atty. Ryan Cruz said that charges will also be filed against the local steel coil traders who allegedly colluded with Bongat.
Cruz also clarified that Bongat is no longer connected with the company.
"Sissie Bongat is no longer in any way connected with JacintoColor Steel, and we will engage the full force of the law to recover the stolen funds," said Cruz, adding that the company will continue its operations despite the ongoing case.
###