Firm treasurer nabbed over missing P90M fund

AGENTS of the Regional Special Operations Unit of the National Capital Region Police Office on Friday arrested a 69-year-old former treasurer of a Chinese company accused of stealing over P90 million of the company’s fund in 2007, NCRPO director, Major General Guillermo Lorenzo T. Eleazar, announced yesterday.

Eleazar identified the suspect as Billy Lim, a resident of no. 323 Ortigas Avenue, Mandaluyong City. The official said the accused was arrested in his residence by NCRPO-RSOU operatives on the strength of a warrant of arrest for qualified theft issued by Judge Nicanor Manalo Jr. of the Pasig City Regional Trial Court Branch 161 last Friday.

No bail was recommended for the temporary liberty of the suspect, the NCRPO director said.

Eleazar said the suspect is the subject of a complaint from the Fermentation Industries Corporation (FINCO) represented by Rodney Vincent C. Yu who personally appeared at the NCRPO- RSOU office in Camp Bagong Diwa in Bicutan, Taguig City to seek the police’s help in effecting the warrant of arrest issued against Lim.

Records showed in 2007, Lim, then the treasurer of FINCO was accused of stealing the corporation’s funds amounting to P90,386,638.77.