THE 46 MILLION 500, 000 PESO SCAM

A New Year, but the same old problems at Cambridge Village.

But maybe there is a light at the end of the tunnel.  The Housing and Land Use Regulatory Board (HLURB) see fit to fine the developer Empire East Land Holdings Inc (EELHI) fines reflecting the severity of the unauthorised selling at Cambridge Village.

Fines totalling nearly 46 and a half million peso's were handed out to the developer.  This is the result of years of unauthorised selling, years of the developer failing to comply with or follow the laws of the land and the orders of HLURB.

Yet even with the 8th Cease and Desist Order in place, yet despite these large fines, the developer continues to sell this project.  What does it take for the law to be upheld?  Surely, if the developer continues to ignore the laws of the land, and the orders of the government agency responsible for land development, then the only course of action is to shut them down!

If any company is found to be guilty of breaking the law and for several years, then how is it allowed to continue trading?  If the company is found guilty of breaking the law, and again continues to break the law, then how are you allowed to continue on trading?  It is not that Cambridge Village is the only project that EELHI is currently developing, but even its other projects have Cease and Desist orders, and no License to Sell or Certificate of Registration.  So obviously the developer has a problem with following and the very act of compliance with the laws of the land and government agency orders. 

Yet whilst HLURB endeavours to do something about a developer who refuses to comply with their orders, what about the ripple effect within the Philippines and the Philippines Stock market (PSE) itself?!

EELHI uses its unauthorised sales information, furnishing its stock holders and the PSE with its unauthorised sales.  Of course it does not tell anyone that they are selling without authority, it seems a sale is a sale, even if it is done illegaly.  Further, EELHI has the audactity to advise its stock holders that it is compliant with all laws and orders in relation to land development!

So how is a company allowed to trade when it lies, cheats, and defrauds its own customers?  EELHI has no morals, no ethics, it would lead you to believe that it is a professional outfit, with the interests of its customers at heart.  But this company operates on law breaking, deception and greed.  Once it has got your money, the interests of the customer is its last concern.  How would you account for a company that sells without authority, and charges illegal miscellaneous fee's blackmailing the buyer to pay these fee's or there will be no transfer of title of ownership!  This is knowing full well that HLURB has told the Register of Deeds not to transfer titles of ownership as the developer is selliong without authority!

Further, we have now seen evidence where EELHI is now charging miscellaneous fee's as the Register of Deeds has now included an IT service charge.  EELHI charges 5,210 peso's for a service which we are sure costs nothing like that!  EELHI uses their miscellaneous charges as a way to get more money out of the client, using the transfer of title of ownership as the bait.  But PD957, says no liens or encumbrances can be used in conjunction with transferring title of ownership.  maybe EELHI would like to explain how they consider their miscellaneous charges as something to actually do with the transfer of titles.   I have seen such charges including notary and admin fee's, meter and billing fee's etc.  What have these got to do with getting a transfer of title?  EELHI still use miscellaneous charges to get more money out of its clients, even though it has no License to Sell? 

This is ESTAFA, it is large scale fraud and deception, and yet they are still allowed to get away with it.  Is the Philippines trying to get to the top of the corrupt country ladder?  If it continues to allow developers such as EELHI to trade in this manner, then surely soon the Philippines will be known as "number one".  Number one most corrupt one most corrupt country in the world.