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Legacy Group officials to face De los Angeles

Manila Standard Today
March 9, 2009

DISGRUNTLED executives of the Legacy Group and a group of plan holders, creditors and investors sympathetic to the group’s founder and principal owner, Celso de los Angeles, will come face to face today at the hearing of the Senate committee on trade and commerce.

Senator Mar Roxas said Carolina Hinola and Namnama Pasetes Santos, president and chief finance officer, respectively, of Legacy Consolidated Plans, would testify at the hearing.

Hinola and Pasetes earlier told reporters that Angeles had transferred a portion of the trust funds of plan holders to his personal bank accounts. They are now under Senate protection.

The Legacy Group is accused of swindling thousands of depositors and plan holders, and most of the banks under it have been closed.

The central bank on Friday filed its second case of syndicated estafa with the Justice Department against De los Angeles and the Legacy Group’s other officers.

Roxas said that a group of plan holders, depositors and investors supposedly supporting Angeles would also attend the hearing.

“We will hear the views of all sides. What is important is we will give all the stakeholders an opportunity to speak.” he said. Fel V. Maragay and Eileen A. Mencias

March 9, 2009 - Posted by | Philippine Newspapers/Web News | ,

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