This case has been cited 1 times or more.
|
2014-08-06 |
DEL CASTILLO, J. |
||||
| Next, regarding misappropriation, the evidence tends to extablish that Manager's Check Nos. 0000003340 and 0000003347 were encashed, using the bank's funds which clearly belonged to OCBC's depositors, and then deposited in Go's OCBC Savings Account No. 00810-00108-0 at OCBC Recto Branch although he was not the named payee therein. Next, the money was automatically transferred to Go's OCBC Current Account No. 008-00-000015-0 and used to fund his seven previously-issued personal checks totaling P145,488,274.48, which checks were dishonored the day before. Simply put, the evidence strongly indicates that Go converted OCBC funds to his own personal use and benefit. "The words 'convert' and 'misappropriate' connote an act of using or disposing of another's property as if it were one's own, or of devoting it to a purpose or use different from that agreed upon. To misappropriate for one's own use includes not only conversion to one's personal advantage, but also every attempt to dispose of the property of another without right. x x x In proving the element of conversion or misappropriation, a legal presumption of misappropriation arises when the accused fails to deliver the proceeds of the sale or to return the items to be sold and fails to give an account of their whereabouts. Thus, the mere presumption of misappropriation or conversion is enough to conclude that a probable cause exists for the indictment x x x."[53] | |||||