Casino Fraud Case in Quezon City: A Deep Dive into the Allegations Against Businessman and Employer

By: Daphne Galvez – The Philippine Star
October 14, 2024 | 12:00am

In an alarming episode that highlights the darker side of business dealings, a notable businessman and an employee from a Quezon City casino are embroiled in a legal quagmire, facing significant criminal charges for allegedly defrauding a corporation to the tune of P12 million. This scandal has sent shockwaves through the local business community, shedding light on the potential vulnerabilities within corporate transactions.

The Accused

The parties involved in this case are businessman Lavish Mohan Paryani and Reigna Reyes, a senior buyer at the casino’s procurement department. While Reyes has already been arrested, Paryani is currently evading authorities, prompting an active police manhunt.

The Allegations Explained

The incident traces back to April 4 when Paryani and Reyes purportedly approached RTI Inc., a company known for its connections with the casino industry. They presented themselves as representatives of a legitimate business that was previously involved in supplying premium prizes to casino patrons and guests.

The meeting was allegedly facilitated by Rajiv Chandiramani, a Filipino-Indian billionaire and principal stockholder of RTI, who has had a long-standing acquaintance with Paryani. According to Maria Anita Turqueza, RTI’s corporate treasurer, this established relationship played a crucial role in gaining RTI’s trust and ultimately its approval for a substantial loan.

The Loan Agreement

During the meeting, Paryani and Reyes requested a loan of P10 million, promising to repay the amount with an additional P2 million in interest within 90 days. To further reassure RTI, they issued a check for the total amount of P12 million. This strategy, which seemed sound on the surface, soon unraveled into accusations of deceit.

The Aftermath and Discovery of Fraud

After the loan was secured, both individuals became increasingly elusive, avoiding any form of communication with RTI. The situation escalated when RTI representatives discovered that the check they had received was drawn from a bank account that had been closed prior to the transaction. This crucial piece of evidence transformed a seemingly legitimate business transaction into a case of apparent fraud.

Legal Proceedings

In the face of these serious allegations, Reyes has attempted to distance herself from liability, asserting that she did not issue the dishonored check and, therefore, should not be held accountable for the fraud. On the other hand, Paryani has not engaged with the legal process, failing to submit a counter-affidavit despite being subpoenaed.

Implications for the Business Community

This case raises significant concerns about the efficacy of due diligence in business transactions, especially in industries where high-stakes deals occur frequently. The repercussions of this alleged fraud extend beyond the individuals involved; they add to the growing discourse on corporate governance and the need for stringent measures to prevent such occurrences in the future.

Conclusion

As the legal proceedings advance, the implications of this scandal are bound to resonate throughout the Philippine business landscape, sparking discussions about ethical practices and accountability in corporate transactions. The arrest of Reyes and the ongoing manhunt for Paryani underscore the urgency of addressing fraud within the business sector.

The public and corporate entities will be keeping a watchful eye on the developments in this case, hoping that justice prevails while fostering a safer and more transparent environment for business in the Philippines.