A crime watchdog filed yesterday a complaint against Chinese casino tycoon Jack Lam for allegedly using dummies to acquire the ownership of Fort Ilocandia Resort and Hotel.
Accompanied by lawyer Ferdinand Topacio, the Volunteers Against Crime and Corruption (VACC) led by Dante Jimenez filed a complaint affidavit against Lam Yin Lok, better known as Jack Lam for violating the Anti-Dummy Law under Section 2-A of Commonwealth Act No. 108, as amended by Presidential Decree No. 715.
Aside from Lam, also named respondents in the complaint are Rosanno Nisce, former president of Fort Ilocandia Holdings; Siu Wah Chung, a British national and former chairman of the board directors; Edgar Lim, former treasurer and director; and Jose Roberto Mumuric, former secretary and director of Fort Ilocandia Holdings.
“Through corporate layering, Fort Ilocandia through its dummy companies, and its Directors and Officers are able to exercise, enjoy, use and exploit real property in the Philippines, contrary to law,” read the VACC complaint.
With this, the VACC also sought to “declare the Asset Purchase Agreement entered into by Fort Ilocandia with Grand Ilocandia and WPI (Waterfront Philippines Inc.) to be null and void for being contrary to law.”
Grand Ilocandia is the original operator and owner of Fort Ilocandia Resort and Hotel when it participated in the deal that took place on September 9, 2000.
Through the asset purchase agreement, Fort Ilocandia Holdings was able to acquire from Grand Ilocandia properties and assets including the Fort Ilocandia Resort and Hotel.
“There is a violation of the Anti-Dummy Law, when a qualified Filipino citizen or national allows a foreign citizen or non-qualified person to enjoy rights, privileges, property or business, the exercise of which is limited to Filipino citizens,” the complainant explained. (JEFFREY G. DAMICOG)
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