The Court of Appeals has cleared property developer Delfin Lee of syndicated estafa charges and orders police to stop his arrest. This is in connection with the over P7 billion of Pag-IBIG loans that went to "ghost borrowers" for Lee's housing project in Mabalacat, Pampanga. The court's 29-page decision reverses an earlier ruling by a Pampanga trial court that issued a warrant of arrest against Lee. The justices ruled Lee can't be charged with syndicated estafa because that crime should involve five or more persons. Since Lee's co-accused Cristina Sagun, an executive of his company, was earlier absolved by the same court, the syndicated estafa charges won't have any more legal basis. In a statement, Vice President and housing czar Jejomar Binay said they will bring the case to the Supreme Court. - ANC News Now, November 18, 2013
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