The biggest law firm in the country allegedly fell victim to a multi-million-peso scam.
Sources in other law firms told abs-cbnNEWS.com/Newsbreak that Sycip Salazar Hernandez Gatmaitan, one of the leading local law firms, was duped by a foreign client into advancing P50 million for a deal that would supposedly bring around P100 million to the firm’s earnings.
The law firm was reportedly promised five percent of its client’s $50 million-claim. However, in order to get their cut, the firm was first asked to advance P50 million.
We learned from our sources that the firm checked its client’s bank account before putting up the advance payment. However, the bank account allegedly disappeared into thin air after the law firm made the P50-million advance.
It is unclear to whom the payment was made and how the deal was explained to Sycip Salazar Hernandez Gatmaitan law office.