Press Release February 10, 2009
ROXAS TO SEC, BSP: RUN AFTER DE LOS ANGELES PROPERTIES
Liberal President Senator Mar Roxas revealed today several personal properties of Legacy Group owner Celso de los Angeles that government regulators should run after and use to compensate plan holders and depositors of the Legacy group. This, as the Chairman of the Senate Committee on Trade and Commerce lambasted de los Angeles for scheming and manipulating the system to enrich himself, at the expense of thousands of plan holders and depositors throughout the country. "Hindi naman ang trust fund lamang ang maaaring pagkunan ng pambayad sa kanila (planholders). Kasama po riyan ang lahat ng ari-arian ng korporasyon. At sa tingin ko, lahat ng ari-arian mo, kahit personal, dahil ikaw ang nangako. (The trust fund isn't the sole source of payments for planholders. These includes all the assets of the corporation. And even including your personal assets, because you were the one who made those promises)," he told de los Angeles during the hearing. "Mapapatunayan pagdating sa korte, at tutulungan ko po sila, na kasama ito sa isang grand fraudulent scheme. Kaya anumang kita na nanggagaling sa fraud, hindi na maisasantabi bilang personal na ari-arian (We will prove in court, and we'll help the planholders, that all of these assets are part of a grand fraudulent. Any income or property coming from fraud could not be set aside as 'personal' property)," he stressed. Roxas belied the claim of de los Angeles that the trust fund could sufficiently answer for all the claims of planholders, saying that it was de los Angeles who "surrendered" in the first place by filing for corporate dissolution before SEC. During the hearing, de los Angeles admitted that he owns several luxury properties after being shown pictures of the same by Roxas. These include:
The Ilonggo senator said de los Angeles defrauded the public by offering "double-your-money" and other unreasonable financial schemes. "Ipinangako mo ito na alam mong hindi mo matutugunan ang mga pangakong ito. Iyan ngayon ang panloloko sa tao (You promised these returns, knowing that you'll not be able to fulfill these. This is defrauding the people)," he said. |
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