Uniwide owner sues its former execs, ex-Landbank officials

The owner of the Uniwide group has sued former senior executives of the once-lucrative retailer and former officials of the Land Bank of the Philippines for allegedly defrauding him of nearly P4 billion in assets.

In a complaint for qualified theft and estafa, businessman Jimmy Gow claimed that the unlawful acts of Jaime Cabangis as chief finance officer of Uniwide Holdings Inc. led to the company’s eventual bankruptcy.

Other respondents include Uniwide comptroller Corazon Rey, Monico Jacob, Cornelio Peralta and Arthur Aguilar.

Also impleaded were former Landbank chair Roberto de Ocampo, former Landbank president Margarito Teves and loan officer Peter Eymard Tamayo. —Marlon Ramos