Kris Aquino sues business partner over embezzlement
October 13 2018 10:22 PM
Kris Aquino
Kris Aquino: victim of business partner?

By Iza Iglesias/Manila Times

Just three weeks after revealing that her trusted business partner embezzled her investments, multi-media mogul Kris Aquino officially filed qualified-theft complaints in seven cities against the individual whom she opted not to identify.
In her Instagram post, Aquino said she personally filed the complaint before the Quezon City Office of the Prosecutor on Friday morning.
Meanwhile, her legal team from the Fortun Narvasa and Salazar Law Office filed the same complaint on her behalf in San Juan, Mandaluyong, Pasig, Makati, Taguig and Manila.
“I continue to have faith that the Philippines’ justice system will uphold the law with impartiality and fairness. My legal teams had met with his (business partner’s) representatives in an attempt to settle amicably, but in straightforward language — ‘they don’t care’. My family had advocated for peace but the other party failed to even meet us halfway and instead chose to spread malicious lies and falsehoods… I wanted to quietly put this painful chapter behind me.
“You know me — I was not the one who started this fight, but I was not raised to back off from the quest for truth. You started it, I will finish it,” Aquino’s post read.
On September 25, the 47-year-old actress shared that she was unable to eat or sleep properly and had lost 15 pounds in a month.
She sought medical attention in Singapore and was diagnosed to be suffering from an autoimmune disease — chronic spontaneous urticaria — which is aggravated by stress, according to her doctors.
In the post, Aquino said the physical toll was a result of a business-related ordeal and “devastating pain of lost trust.”
She then disclosed that she was seeking justice for “financial abuse and betrayal” that was committed by someone close to her, and who had already earned millions from running her media company Kris Cojuangco Aquino Productions (KCAP), which is currently behind her digital empire.
Consulting her lawyers Sig Fortun and Florin Hilbay on what legal action to take, Aquino said she was particularly affected by the matter because the trust funds of her two sons Josh and Bimbi were involved.
“My pain comes from my fear that tens of tax paid millions from my sons’ trust funds, money I conscientiously saved for them because I made a deathbed promise to my mom (late former president Corazon Aquino) that Big Brother Josh and Bimbi will always come first, but I fear that all that I had worked hard for will be lost. It is wrong that the two boys I love most, my life’s meaning and inspiration may suffer consequences because I was targeted and deceived by a person with no conscience,” she wrote.
“The settlement or legal battle will now be in the hands of lawyers I respect, auditing and accounting firms I trust, the word of honour of his deeply shamed mother and sister that all my investments shall be returned, and our collective prayers that justice for my sons will prevail,” Aquino said.
As reported by Manila Times Entertainment yesterday, it was veteran show business personality Lolit Solis who revealed in radio anchor Arnold Clavio’s “Sino?” segment on dzBB that it is her manager Nicko Falcis, whom Kris regarded as a business partner, who embezzled her investments.
Earlier reports said the actress-host engaged the services of Falcis as managing director of her digital media company, Kris Cojuangco Aquino Productions.
Falcis was also reportedly responsible for Aquino’s “Crazy Rich Asians” gig.
The website Push, ABS-CBN’s digital entertainment arm, quoted sources as far back as December 31, 2017 that Falcis was the reason why Aquino left good friend Boy Abunda as talent manager.
The article posted on that date said, “Nicko Falcis is Kris’ new manager. He was responsible for making her earnings from digital media nearly exceed those from traditional TV by February 2018.”



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