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What is Estafa Case: Ng vs. Asiatrust Ruling about?

Anthony Ng applied for a loan from Asiatrust Development Bank to finance his business of building telecommunication towers. Asiatrust approved the loan but Ng had difficulty repaying it due to unpaid receivables from one of his clients. Asiatrust claimed Ng committed estafa but the Supreme Court ruled that the transaction was a simple loan, not a trust receipt arrangement. The elements of estafa were not present as Ng was transparent that the goods received were for building towers, not resale. The Court ac

Author

Athena Santos

Language

EN