Me and my 2 friends form a corporation. Unfortunately, the business didnt prosper. We are already on the stage wherein we filed our application with SEC therefore we already deposited the 25% of 25% of our capital to the bank.
The nominated Treasurer was the one holding our invested money and she is also the responsible person on processing our SEC application. According to SEC, since the corporation did not prosper then we need to file a Certificate of Non-registration in order for us to withdraw our capital from the bank. I called the SEC and they informed me that the Certificate of Non-registration is already available but our Treasurer haven't claimed.
I am suspecting that she is delaying or holding the processing to keep our invested money on her possession. I asked her to provide us expense summary so we would know how much money we can still claim but she failed to do so.
Is this valid for a estafa case?
Appreciate your advice on this.