Former Armed Forces of the Philippines-Retirement and Separation Benefits System president Jose S. Ramiscal Jr, along with four other conspirators, has been sentenced to a maximum jail term of 20 years by the Sandiganbayan Second Division.
Ramiscal was found guilty of falsifying the deed of sale of four parcels of land on Aug 1996.
The land in Barrio Makiling, Calamba, Laguna, which was meant to be used as retirement homes for AFP officials, was declared worth PHP 341,343,000.
It’s real cost was only PHP 91,024,800.
The document was signed by Elizabeth Chua Liang and Jesus Garcia, and they, too, were sentenced to jail together with Julian Alzaga and Manuel Satuito.
Apart from the jail term, they have all been ordered to each pay a fine of PHP250 million.
