People of the Philippines vs.

Go
G.R. No. 191015. August 6, 2014.

FACTS:

After the order of closure of the Oriental Commercial Banking Corporation (OCBC), PDIC began collecting
loans receivable of OCBC. Among the borrowers are Timmy’s Inc. and Asia Textile Mills, Inc. Both alleged
that no loan was released to them. After investigation, it was found out that the amount was allegedly
deposited to the saving account of OCBC’s President, Jose Go, and then automatically transferred to his
current account to fund personal checks issued by him.

ISSUE: Whether Go should be held liable for Estafa through Falsification of Commercial Documents – YES

RULING:

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 and disposing of another’s property as if
it were one’s own, or of devoting it to a purpose or use from that agreed upon. To misappropriate for
one’s own use includes not only to conversion to his own personal advantage but also every attempt to
dispose of the property of another without right.