Fujitsu Philippines board members Shiro Ogata, Hiroshi Nakamura and Tomoji Sato acquired the services of the Romulo Mabanta Buenaventura Sayoc and De Los Angeles Law Firm to represent them in an estafa case.
Other respondents in the case are Fujitsu directors Junichi Sato, Ernesto Espinosa, Socorro Silva and Wilfredo Pantig. Also facing charges are real-estate brokerage firm CB Richard Ellis, its chairman and president Frederick Santos and agent Joey Radovan.
Berny Realty and Development Corp. filed the case after Fujitsu, through CBRE, sold a 20-hectare property at The First Philippine Industrial Park II in Tanauan, Batangas for P150 million.
The sale was first settled through a handshake agreement between Ogata and BRDC representative Necisto Sytengco as witnessed by Santos and Radovan, before being formalized in writing days later through a letter signed by Sato.
BDRC issued checks amounting to P30 million as downpayment based on the terms of the sale.
Trusting that it was now the rightful owner of the property, BRDC then spent another P5 million for repairs and assessment and secured all the necessary permits from the Philippine Economic Zone Authority in support of its business plans.
The problem began when Fujitsu and CBRE refused to execute a deed of absolute sale, despite follow-ups from BRDC and an offer to pay the remaining balance for the property. The Japanese company claimed that it needed to “obtain the approval of FPIP” before completing the sale because Fujitsu “did not want to offend them.”
Fujitsu later sold the property to FPIP at a lower price of P110 million. FPIP then re-sold six out of the 20 hectares of the property to another company for P896 million, thereby earning a profit of P786 million while retaining ownership of the 14 remaining hectares.