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Legacy official bares Delos Angeles ‘connection’ in SEC

March 9, 2009
by Amita Legaspi

MANILA, Philippines – The chief operating officer of beleaguered Legacy Consolidated Plans, Inc. on Monday disclosed the alleged close relationship between the company’s owner Celso Delos Angeles Jr. and Commissioner Jesus Enrique Martinez of the Securities and Exchange Commission.“I know for a fact that Mr. Delos Angeles is well connected with the SEC, the regulatory body in charge of the pre-need companies as he is a close friend of Commissioner Jesus Martinez of the SEC,” Carolina Hiñola said as she read her affidavit of witness and undertaking before the Senate committee on trade and commerce.

She said Delos Angeles often mentioned and bragged about his connection with the SEC, adding she was able to personally confirm this when the former asked them to meet Martinez on February 14, 2006.

They met at the Japanese Restaurant at Shangri-la Makati. Hiñola said Martinez was accompanied by Parañaque Representative Eduardo Zialcita.

She said that in the meeting, Martinez asked if Legacy has problems with the SEC and that he could help them.

She said that on November 9, 2007, she met with Martinez again at the Linden Suites in Ortigas where she handed to him P1.475 million upon the instructions of Delos Angeles.

“The said money was personally received by Martinez. The money came from RBSJ as supposed payment to Martinez for the Expedition acquired by RSBJ [Rural Bank of San Jose]. What I know is that while the Expedition was booked for the account of RBSJ, it was Delos Angeles who personally used the same,” Hiñola said.

She said Martinez knows her cellular phone number and on one occasion, he called her to follow up the payment by Legacy to a certain Michael Lirio, a seller of a house and lot in Parañaque that was supposed to be the SEC commissioner’s gift to his son.

“Legacy ended up buying the said house and lot from Mr. Lirio, ownership of this house and lot was later transferred to Commissioner Martinez’ son,” Hiñola said.

She added Martinez helped the Legacy when it had problems renewing its dealership license in 2008 due to some deficiencies.

“From my interactions with both Mr. Delos Angeles and Martinez, I can say with reasonable certainty that Commissioner Martinez is a close friend of Mr. Delos Angeles,” Hiñola said.

Martinez, who was present during the hearing, denied Hiñola’s the allegations, saying November 9 was the anniversary of SEC and he couldn’t have been there in that supposed meeting.

“It could not have happened on that day. On the other dates, I have to trace all the dates,” Martinez said.

Martinez oversees the SEC Non-traditional Securities and Instruments Department that has direct supervision over pre-need companies. – GMANews.TV


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

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