A treasurer of a Chinese primary school was charged on Friday with estafa before the Manila Regional Trial Court (RTC) for allegedly diverting school funds totaling to P3.8 million by allegedly forging the signature of the school’s president and chairman of the board in 2005.
The Manila City Prosecutor’s Office filed estafa under Article 315 paragraph 1 (b) of the Revised Penal Code against Jaime Dychauco, of 718 BPI Bldg.,150 Plaza Cervantes, Binondo, Manila.
In an information, Assistant City Prosecutor Teresa D. Escobar-Pilares, set Dychauco's bail at P40,000 for his provisional liberty.
The charges stemmed from a complaint lodged by Chua Beng Theng, chairman of the board and president of the Jin Nan Institute, located at 826 Alvarado St., 1106 Binondo, Manila.
Theng said Jin Nan Institute is an English and Chinese language oriented elementary school whose operations are financially supported and subsidized by the Philippine Grand Mason Fraternity, a charitable and civic organization.
Dychauco was named treasurer of the school in 2005.
Court records showed that sometime in January 2007, Theng and other officials of the Jin Nan Institute found out that the school lost some funds and even encountered financial problem to pay the salaries of its teachers and to cover other school operating expenses.
Theng and other officials conducted inquiry to determine what really transpired that resulted in the “loss†of some funds.
Upon verification made with the bank where the school maintains its funds, Theng said the bank informed them that Dychauco made two withdrawals in the last quarter of 2005 totaling to P3,845,360.
Theng further discovered that the withdrawal slips presented by Dychauco in both bank transactions, the first in Aug. 23, 2005 for Pph820,560.62 and the second for Pph3,024,800 on Oct. 25, 2005, carried his signatures, which Theng said had been forged. - PNA
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Topic: Estafa Case Filed Against School Principal (Read 1502 times)