PEP Coalition

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Group offers more proof of Legacy wrongdoings

Manila Standard Today
March 5, 2009
By Gigi Muñoz David

A group of pre-need plan holders said it has witnesses that will testify today and prove that Celso de los Angeles, owner of the Legacy Group of companies, diverted plan holders’ premium payments to his personal bank accounts.

Philip Piccio, president of the Parents Enabling Parents Coalition, said the two witnesses are ranking officials of the Legacy Group and have in their possession pieces of evidence that De los Angeles indeed authorized the transfer of funds.

“We will present witnesses who are former employees of the Legacy Group that will speak out and attest that De los Angeles was still operating the company contrary to his repeated denials,” Piccio said during a forum at the Club Filipino in Greenhills, San Juan, yesterday.

The pieces of evidence consist of original vouchers and documents from several banks.

Piccio said the witnesses, whom he did not identify, will prove that De los Angeles has been operating the pre-need company until its bankruptcy. “We have two cartons of documents that will prove the guilt of De los Angeles and that he was in charge of the Legacy group despite his election as mayor of Sto. Domingo town in Albay.”


March 5, 2009 - Posted by | Philippine Newspapers/Web News | , , ,

1 Comment »

  1. Important news for the PEP: I suspect that the SEC in Cebu City is also involved in this: About 1 year ago I asked them for the Yearly Financial Reports of the Legacy Group and of 12 Legacy Banks. I even paid for all these 13 reports in advance. HOWEVER, I NEVER RECEIVED THE REPORTS. At that time I thought is was because of an administrative chaos within the SEC CEBU. But now I’m sure that someone connected to the SEC in Cebu City probably sabotaged my inquiry in order to keep things secret.

    Comment by Dick Detering | March 7, 2009

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