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hookedtothenet posted a topic in News, Headlines & World EventsJUDGE ORDERS ARREST OF OCEAN ADVENTURE EXEC (SBN Exclusive)By Publisher on November 6, 2014 AUTHORITIES are on a manhunt of Timothy J. Desmond, chairman and chief executive officer of Subic Bay Marine Explorarium Inc. (SBMEI), which runs the theme park Ocean Adventure in the Subic Freeport, based on two (2 ) warrants of arrest issued by the Olongapo City Regional Trial Court (RTC) Branch 72 against him. Timothy J. Desmond. No bail recommended and P200 K reward for information leading to his arrest. Judge Richard A. Paradeza, in his orders for the arrest of Desmond dated Nov. 4, 2014, set No Bail for the “Syndicated Estafa” charge while on the simple estafa case, bail was set at P80,000. “No other than the Supreme Court declared that there is probable cause against the accused for the crimes charged, hence, the issuance of warrants for the arrest of the accused must follow as a matter of procedure,” Paradeza said. Desmond, according to the criminal informations for Estafa filed against him, allegedly defrauded a former business partner of some $2.15 M (roughly P107 M), misappropriating the amount for personal use and benefit. The legal battle has been dragging on for the past 10 years with exchanges of appeals and motions for reconsideration reaching the Supreme Court which ruled on June 26 this year to reinstate the criminal cases versus Desmond that emanated from the complaint of businesswoman Virginia delos Santos – Dio. Elements of the Law Enforcement Department (LED) of the Subic Bay Metropolitan Authority (SBMA) combined with agents of the National Bureau of Investigation (NBI) on Wednesday to arrest Desmond in his house near Ocean Adventure but failed to collar him there. A reward of P200 K will be given to any person who will provide information leading to the arrest of Desmond, authorities said. Tagged as: Enerzone Subic, environment, Harbor Point Subic, News in Subic, Ocean Adventure,SBMA, SM City Olongapo, Subic, Subic Bay News, subicbaynews.net, Subictel, tourism Source : http://subicbaynews.net/?p=10218