Salem Investment Corp: Case filed by Mariano Nocom Jr. dropped; qualified theft vs him pends

MARIANO Nocom Jr., the son of the late tycoon Mariano Nocom Sr., withdrew the case for qualified theft that he filed last January against the other children and relatives of the tycoon over what he claimed were monies they took from the family corporation, Salem Investment Corporation (Salem).

 The case was filed by Mariano Jr. after Salem itself filed in November last year a suit for Qualified Theft and Falsification against him for alleged misappropriation of over P128 million from the company.

While Nocom Jr. voluntarily withdrew his complaint against Salem’s officers and shareholders, Salem said it will not withdraw and intends to pursue its case against Mariano Jr.

In a letter to the BusinessMirror, the law office of Fortun Narvasa & Salazar revealed that Salem, on November 12, 2021, filed the Qualified Theft and Falsification case against Mariano Jr. for allegedly taking rental payments rightfully belonging to the corporation amounting to P128,069,792.80, and for executing two contracts in Salem’s name, misrepresenting himself as its Executive Vice President with authority from the Board of Directors to contract on behalf of the corporation.

 However, Salem’s lawyers said, he had no authority, nor was he the Executive Vice President of the corporation. Mariano Jr.’s case against shareholders and officers of Salem was, they stressed, clearly retaliatory and intended to hit back at and harass them.

 He filed his own Qualified Theft case only last January against Matthew Nocom, Martin Nocom, and the law firm’s clients Albert O. Nocom, Caroline Nocom-Ng, and Helen Lim. But, in his affidavit of desistance dated March 29, a copy of which was furnished to the BusinessMirror, Mariano, Jr. said he decided “to desist from prosecuting the above criminal case…” However, the law firm said that Mariano, Jr. withdrew the case after their clients and the other respondents had effectively refuted his claims before the Pasay City Prosecutor. “Mariano Jr.’s desistance results from the realization of the falsity of his claims against our clients,” said the law firm.

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