Help regarding estafa

Good day sir. Wala po akong masyadong alam sa processes and terms sa law but I need your advise regarding this.

Here's the story. Yung friend ko and his other friends committed themselves to publish yeabooks for a batch sa isang high school. They do it part-time and wala silang fund so the students payed mandarorily to have the book published. They placed the money on a bank account and all transactions were monitored sa passbook. The project lasted almost a year na, so concerns were raised kung tinakbo na ba and pera, ginastos sa kung saan, etc. And then a parent of a student threatend my friend, saying he will sue him for estafa.

I need your advise kung may grounds po ba siya for that? and if ever pwede po ba mag-file ng damages and friend ko for false accusation? Thank you in advance.

are they considered the sellers of the books?

I don't think so sir. Kasi po sila yung nag-oorganize and design ng yearbooks but iba po yung pinaka-publishing company kaya po yung fee na sinisingil nila ay galing rin sa publishing company.

they should account for the money with receipts. they were entrusted with it, hence if it got lost, the presumption will be that they misappropriated it