Case Digest (A.C. No. 10580)
Facts:
Spouses Geraldy and Lilibeth Victory v. Atty. Marian Jo S. Mercado, A.C. No. 10580, July 12, 2017, Supreme Court Third Division, Tijam, J., writing for the Court.
In 2009 the Spouses Victory entrusted their funds to respondent Atty. Marian Jo S. Mercado, a lawyer who solicited investments by promising high, short‑term returns (e.g., Php 400,000 for Php 600,000 in 30 days; Php 500,000 for Php 625,000). The early transactions produced the agreed returns for about ten months, and some investments were memorialized by Memoranda of Agreement.
Subsequently, respondent became evasive in returning funds and failed to account for monies entrusted to her. The Spouses Victory alleged an outstanding obligation of about Php 5 million plus interest, totaling Php 8.3 million, and filed a criminal complaint for estafa and violation of Batas Pambansa Blg. 22 with the Office of the City Prosecutor of Sta. Rosa, Laguna. After the criminal complaint was filed, respondent proposed reducing her obligation to Php 7.5 million and issued three postdated checks of Php 300,000 each as partial settlement; those checks subsequently bounced.
The Integrated Bar of the Philippines Commission on Bar Discipline (IBP‑CBD) investigated and recommended a six‑month suspension for respondent. The IBP Board of Governors adopted the CBD report but, by Resolution No. XX‑2013‑199 (March 20, 2013), modified the recommendation to disbarment, citing violation of Canon 7 and respondent's failure to appear in the investigation. Respondent's motion for reconsideration was denied, but by Resolution No. XXI‑2014‑158 the Board again modified the penalty, reducing it to suspension for...(Subscriber-Only)
Issues:
- Should respondent Atty. Marian Jo S. Mercado be held administratively liable based on the allegations on record...(Subscriber-Only)
Ruling:
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Ratio:
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Doctrine:
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