2016 (Criminal Law) Bar Exam Questions: Question 7

[Answer/discuss the question below, or see 2016 bar exam Criminal Law Instructions; 2016 Mercantile Law questions: 1234568910111213141516171819 and 20; See also 2016 Bar Exam: Information, Discussions, Tips, Questions and Results]

-VII-

Val, a Nigerian, set up a perfume business in the Philippines. The investors would buy the raw materials at a low price from Val. The raw materials consisted of powders, which the investors would mix with water and let stand until a gel was formed. Val made a written commitment to the investors that he would buy back the gel at a higher price, thus assuring the investors of a neat profit. When the amounts to be paid by Val to the investors reached millions ofpesos, he sold all the equipment of his perfume business, absconded with the money, and is nowhere to be found. What crime or crimes were committed, if any? Explain. (5%)

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