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Quezon City prosecutors find sufficient basis to pursue charges; Lakam Chiu denies wrongdoing
MANILA — Lakambini “Lakam” Chiu, the elder sister of actress and television host Kim Chiu, is facing 124 counts of qualified theft involving about ₱44.4 million in disputed corporate funds after Quezon City prosecutors found sufficient basis to pursue the charges.
The case involves House of Little Bunny Philippines Inc. (HOLB), a fashion business established by the sisters. In a 21-page resolution dated Sept. 1, the Quezon City Office of the City Prosecutor said the questioned withdrawals and online transfers totaled ₱44,396,331.65 and involved 124 separate transactions.
The prosecutor’s finding is not a determination of guilt. Lakam has denied committing qualified theft and disputes the claim that she used company money without authority.
Kim told prosecutors that she had entrusted Lakam with substantial responsibility for HOLB because of the demands of her entertainment career. Prosecutors found that the disputed money belonged to the corporation and said no board resolution, secretary’s certificate or other corporate authorization had been presented allowing it to be used for ventures unrelated to HOLB.
Lakam maintained that the sisters had agreed the accounts could be used for other business ventures. She denied using the money for personal gambling, saying funds were placed in a casino-related “junket” venture intended to generate returns but that the investment failed.
Prosecutors also rejected Lakam’s argument that the family relationship shielded her from criminal liability, reasoning that the allegedly injured party was the corporation, which has a legal identity separate from its shareholders.
The complaint against Kim’s longtime personal accountant, Helena Tayag, was dismissed after prosecutors found insufficient evidence linking her to the questioned transactions or an alleged conspiracy.
Star Magic said in July that Kim remained committed to pursuing the case through the legal process. Lakam retains the right to contest the allegations and present her defenses in court.
