Authorities in La Union have arrested an operations manager of a subdivision developer for allegedly collecting P1.5 million from a buyer, despite a cease and desist order against the project.
Regulatory Oversight and Enforcement
Here is a developer who did not complete their projects but continues to collect payments and even coerce their victims.
Melvin Matibag, NBI Director
- The suspect pressured buyers for payments despite the order from authorities.
- The developer's license had been revoked due to failure to complete the project.
The National Bureau of Investigation (NBI) Ilocos Regional Office conducted the operation, following a request from the Department of Human Settlements and Urban Development (DHSUD). Surveillance footage revealed the suspect in the act of signing documents with a buyer.
DHSUD Ilocos Director Eleador Balgos confirmed that the developer had been operating illegally and collecting payments from unsuspecting buyers. Authorities have charged the suspect with estafa, grave coercion, and violations of both the Subdivision and Condominium Buyers’ Protective Decree and the Real Estate Service Act.
This incident underscores ongoing challenges in the real estate sector, particularly regarding compliance with regulations designed to protect buyers. Buyers are urged to verify the legitimacy of real estate developers before making any payments.
As the investigation unfolds, the NBI and DHSUD have advised the public to remain vigilant and report any irregularities in real estate transactions.