This case has been cited 1 times or more.
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2002-09-11 |
BELLOSILLO, J. |
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| committed by virtue of the office assumed by petitioner as President, Director and stockholder in MTCP, and committed against the MTCP corporation, and therefore violative of SEC rules and regulations. An intra-corporate controversy involves fraudulent actions and devices which are detrimental to the interest of stockholders, directors and the corporation. It is one which arises between stockholders and the corporation. In Abejo v. de la Cruz,[2] the Court held that there is no distinction, qualification nor any exemption whatsoever, as the provision is broad and covers all kinds of controversies between stockholders and corporations. The alleged failure of petitioner to liquidate and settle his cash advances with respondent MTCP despite demand qualifies as one such controversy. In the same vein, the alleged fraudulent acts constitute the elements of abuse of confidence, deceit or fraudulent means, and damage under Art. 315 of The Revised Penal Code on estafa. In this case, the relationship of the party-litigants with each other or the position held | |||||