AJ Global's Missing Money
AJ GLOBAL COURT CASE STARTS 23 SEPTEMBER
18 September 2010
The scandal of remittance company AJ Global of Orpington in Kent and its sister company Far East Express Remitters in Manila is getting one stage closer towards a full court case in Manila[FULL STORY]
AJ Global's bosses to face estafa charges
The directors of AJ Global/Far East Express Remitters (FEER) will face prosecution in the Philippines according to recently released documents issued at the Makati Regional Trial Court over the missing P18 million sent from the UK to RP.
Adan Ubando, Lalaine Ubando and Josephine Alayon (sister of Lalaine Ubando) are recommended for trial on charges of syndicated estafa after the National Bureau of Investigation (NBI) started inquiries into Far East Express in the Philippines over non-supply of money remitted by OFW's in the UK. These funds had been sent through AJ Global of Orpington in Kent where the Ubando's ran a shop.
As can be seen in the court document resolution reproduced below, the Ubando's and Alayon's claim that the money sent through AJ Global (AJG) on behalf of AJG's customers in the UK did not reach FEER was not accepted by Makati RTC.
Also attached to the RTC's resolution is the Creditor's report issued by the British Government's Official Receiver into the collapse of AJG in the UK. A perusal of these two documents shows the contradiction into claims by the Ubando's and Alayon of innocence.
NOT THE FIRST TIME MONEY WENT MISSING
This is not the first time the Ubando's have been involved in monies going missing.
Previously operating from the Orpington shop, using the original name Far East Express Remittance, they were sued by the major money firm I Remit over several hundred thousands of pounds as I Remit were acting as wholesalers for FEER.
The Ubando's had agreed to an audit by an independent company, and to abide by the ruling, when I Remit found serious discrepancies. They then reneged on this agreement, leaving I Remit to start court proceedings in the High Court in London.
This culminated in the first trial when judgement was given against the Ubando's and FEER. They then placed FEER into liquidation, starting up immediately as Far East Express Services to try to escape liability for the damages and heavy costs awarded aginst them. After complaints by I Remit, they then altered the name to AJ Global, leaving I Remit with no recourse but to sue yet again for costs because of the Ubando's conduct.
This case I Remit yet again won, with the result that costs for the previous case and the new one were awarded against the Ubando's on a personal basis.
The Ubando's have spent the past few years twisting and turning to duck out of liabilities; however now the chickens are coming home to roost with the development in the Makati RTC and the banning from being directors of companies in the UK.
BANNED AS DIRECTORS IN THE UK
In a related, but separate development, Lalaine and Adan Ubando have been banned from acting as directors of a British Company. Proceedings are being prepared against Josephine Alayon which will result in court action in the UK to have her banned as well.
Lalaine Ubando has given an undertaking to be banned as a director for 9 years, while Adan Ubando has given a similar undertaking to being banned for a period of 6 years. The bans are effective from December 2009. These bans have been ordered after the Insolvency Service of Companies House conducted investigations into AJ Global as a result of many complaints from people who had sent money to relatives in RP which never arrived.
Josephine Alayon did not give such an undertaking so she will be prosecuted on that matter.
Sources within Companies House have said that the investigation into the affairs of AJ Global/Far East Express is still being conducted. One of the problems for the delay is that the Ubando's did not supply complete banking records, which meant that the Insolvency Service had to request all previous statements from the bank's directly where AJ Global and the Ubando's had accounts.