G.R. No. 233015 - LUIS L. CO AND ALVIN S. CO, VS. PEOPLE OF THE PHILIPPINES, BANGKO SENTRAL NG PILIPINAS AND PHILIPPINE DEPOSIT INSURANCE CORPORATION.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, premises considered, this Court finds accused LUIS L. CO and ALVIN MILTON S. CO, GUILTY beyond reasonable doubt of the crime of Estafa under paragraph 2 (a) of the Revised Penal Code. They are hereby sentenced to suffer four (4) years of prision correccional in its medium period as minimum to fourteen (14) years, eight (8) months and one (1) day of reclusion temporal in its medium period as maximum and to indemnify Jade Progressive Savings and Mortgage Bank, its depositors and creditors and the Bangko Sentral Ng Pilipinas in the amount of Three Million Thirty-two Thousand Nine Hundred and Nine Pesos (P3,032,909.00) representing the total amount of checks paid for the alleged services rendered by Acme Investigation Services, Inc., SO ORDERED.