See - 204755.pdf
"x x x.
Under Article 315 (1)(b) of the RPC, the penalty of estafa shall be “prision correccional in its maximum period to prision mayor in its minimum period, if the amount of the fraud is over 12,000 pesos but does not exceed 22,000 pesos. If such amount exceeds 22,000.00 pesos, the penalty so provided shall be imposed in its maximum period, adding one year for each additional 10,000 pesos provided that the total penalty which may be imposed shall not exceed twenty years.
Applying the Indeterminate Sentence Law (ISL), the minimum term of the imposable penalty shall be “within the range of the penalty next lower to that prescribed” for the offense, without first considering any modifying circumstance attendant to the commission of the crime.29
x x x."