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Gabionza v. CA
Gabionza v. CA
ISSUE WON the charges against the corporation can also be pinned against Roxas and Nolasco likewise.
HELD YES. The material misrepresentations have been made by the agents or employees of ASBHI to petitioners, to the effect that the corporation was structurally sound and financially able to undertake the series of loan transactions that it induced petitioners to enter into. The false representations made by the ASB agents who dealt with the complainant-petitioners and who inveigled them into investing their funds in ASB are properly imputable to respondents Roxas and Nolasco, because they, as ASBs president and senior vice president/treasurer, respectively, respectively, in charge of its operations, directed its agents to make the false representations to the public, including the complainant-petitioners, in order to convince them to invest their moneys in ASB. It is difficult to make a different conclusion, judging from the fact that respondents Roxas and Nolasco authorized and accepted for ASB the fraud-induced loans.