Revolution Precrafted founder and CEO Jose Roberto “”Robbie” Antonio has stepped down from Century Properties Group Inc. effective immediately.
In a disclosure to securities regulators, CPG said its board approved the resignation of Antonio as co-managing director to allow him to “focus on addressing the pressing issues in his own company and its allied businesses.”
The resignation comes in the wake of allegations he ran away with P150 million in questionable deals with several suppliers and contractors.
CPG is currently in search of Antonio’s replacement as director of the board.
Based on separate complaints lodged with the National Bureau of Investigation, Antonio stopped dealing with the contractors allegedly after receiving the money and despite repeated demands for the refund of their investments.
Robbie’s father, Jose E.B. Antonio is the 39th richest Filipino with a net worth of $180 million as of 2020.