How far will Legacy Probe go?
March 10th, 2009 by Patricio Mangubat
Patay, yari na'ko
Senators Mar Roxas, Pong Biazon and Juan Ponce-Enrile did a great job yesterday during the hearing on the Legacy Bank and pre-need fund scams.
Enrile was brilliant when he suggested that the SEC and the BSP go after all of Celso delos Angeles Jr.’s properties, especially that 200 million peso house he tried to sell to one of the senator’s friends.
Collusion was established between some officials of the Securities and Exchange Commission (SEC) and Legacy owner Celso delos Angeles Jr. when two (2) former Legacy executives implicated SEC Commissioner Martinez as the official who received a house and lot and one Ford Expedition from Boy Sese.
One Legacy official also tagged Paranaque Representative Ed Zialcita who reportedly receives 100,000 pesos per month as “consultancy fees” from De Los Angeles Jr. The monies given to Zialcita already amounted to 1.8 million pesos.
It was also established that Zialcita and SEC Commissioner Martinez are second cousins. This implies that Zialcita probably also benefitted from the “fruit of the poisonous” Legacy tree.
What has not been mentioned so far are the so-called ties of Delos Angeles to Speaker Prospero Nograles who admitted having a 17 million peso interest in the Legacy banks. Nograles said that he was a silent investor in Boy Sese’s banks. If this is true, Nograles has one of the biggest investments in the scam. He should be invited for questioning too.
Former senator Robert Jaworski’s name was also mentioned, along with Vice President Noli de Castro’s. De Castro, as reports and records would show, knew Mr. Delos Angeles Jr. since his broadcaster days over at ABS-CBN. When Boy Sese was operating his illegal numbers game in Marikina and Rizal, de Castro was allegedly seen having lunch and dinners with him.
The question in everybody’s mind is—how deep will this probe go? Would it go up to De Castro even? Or, it will just settle with Zialcita, who defended himself by alleging that he’s being made a foil to protect the interests of other government officials implicated in this monumental scam.
Vice President Noli de Castro already said his piece and nothing was ever mentioned in the newspapers about his complicity behind the Legacy scam.
Remember that Noli de Castro heads the housing department of the government. How many housing units did the Legacy banks tried to finance using Legacy pre-need funds? That should be investigated as well.
Another one, there has been no whimper on the probe of other pre-need firms which are now in the brink of collapse. Same goes to the Philippine Deposit Insurance Corporation (PDIC) who continues to fund that 14 billion pesos which Delos Angeles squandered and led to the collapse of the Legacy banks. PDIC should stop paying up and conclude their investigations on the authenticity of the deposits before they go further.
March 10, 2009 at 9:24 am
great blog Pat,
auditing according to lifestyle check must be done to all the names involve. Any politicians who have more than 5 % interest to any private entities such as Legacy bank or pre need funds can be in conflict with
March 10, 2009 at 10:44 am
Methinks the surface is just being scratched.
Dami pang lalabas na putik, Pat.
Malala ang Kanser ng Katiwalian maging sa pribadong sektor.
Sadya ring tiwali ang palakad sa mga institusyong publika bunga na rin ng masamang ehenplo ng pambansang pamunuan.
March 10, 2009 at 10:59 am
Celso de los Angeles could be back in Congress by the 2010. Joc Joc should also be in Congress by then.
We have the most inept, corrupt fiscal and monetary agencies and institutions in the world.
The BIR, SEC, BOC and the BSP are without a doubt amongst the most useless in the world.
The man de los Angeles is innocent until proven guilty by a court of law. He will never see the inside of a jail cell. The BSP in filing a syndicated estafa charge would like to see him held without bail.
Let us see how long this noise lasts?
March 10, 2009 at 12:37 pm
This blog brings to light that both elected public officials as well as appointed public officials do involve themselves in some kind of financial anomaly or other.
We also see that incumbent politicians as well as those are former politicians are almost always involve in again, such reported anomalies, the last one being that of the late senator and this one of a former senator.
In other words, may be investigations should really reach full maturity to show to us whether or not the following really committed unlawful acts, to wit:
Rep. Zialcita
Commissioner Martinez
Speaker Nograles
Former Senator Jaworski
Vice-President de Castro
SEC Commissioner delos Angeles
Others found to be involved.
March 10, 2009 at 1:11 pm
Most of our government officials are bantay-salakay. Sleeping with the enemy all the time. Unbelievable the stomachs of these crooks. Maybe we should bring back the death penalty for plunderers and people who should be protectors, but coddle instead criminals such as what the SEC official did. Isama na dyan si Merceditas G.
Our officials have become virtually fearless with the consequences of their deeds and they go on their ways definitely acting and assuming that they are all above the law.
And Joc-joc is virtually a free man for all the noise. And he’s contemplating running for Congress. How twisted.
Our Pinas is like a blackhole in the justice department — it transports you into a different universe altogether where vile deeds are a ticket to more power and influence. It’s a miracle we folks could keep our wits together.
And this de los Angeles was saying on TV that he became religious because of the scandal. Dinamay pa ang Dios sa kalokahan nya. Anak ng pating nga naman.
March 10, 2009 at 3:17 pm
The Philippine government has achieved what nature has called a black hole.
The Black Hole of Governance.
It is sad that this gentle man called Francis M. lived and died speaking and pointing to the truth in a make believe country.
March 10, 2009 at 3:36 pm
well J_AG, there is still hope for us.
we could elect to do the change NOW rather than 2010. Malacanang could very well lead the charge by crucifying this Celso de los Angeles and make him pay for all the misdeeds he allegedly committed against 140,000 depositors.
Mrs. Arroyo could also ask that her ally Nogie, be investigated immediately for alleged collusion. Anyway, Nogie is not a valuable asset of this administration anyway, so better drop him now than face the prospect of defeat in 2010.
Also, this could be the opportune time for Mrs. Arroyo to debilitate De Castro. De Castro remains a thorn in the presidential ambitions of Cheez Escudero, the reported anointed of both Arroyo and Danding. This could be the time for them to at least erase Kabayan from the political picture.
March 10, 2009 at 3:39 pm
Pat,
http://midfield.wordpress.com/2009/03/10/public-incompetence-and-corporate-corruptionthe-legacy-pre-need-scam/
March 10, 2009 at 4:32 pm
Please, we are beating at the arms. Keep cutting the tentacles and we’ll see the regeneration of more arms that will bloom into the creatures that eat our flesh.
The Hydra is ALIVE!
March 10, 2009 at 4:36 pm
Are we turning into a nation of FOLLOW-THE-LEADER?
March 10, 2009 at 5:14 pm
Hi Pat! Let me share with you my blog post about this issue.
http://www.carloople.com/2009/03/10/legacy-scam-and-right-of-reply/
March 10, 2009 at 9:04 pm
¨Senators seek SEC execs’ ouster¨
ANG LUPIT NG DATING!!!!!
ANG MGA MAGNANAKAW PINAPAKULONG ANG ISA PANG MAGNANAKAW BWAHAHAHAHAHAHAHAHA
SIGURO DAHIL ITONG MAGNANAKAW NA TO AY KASAMA SA KALABAN NA GRUPONG MAGNANAKAW?
PIGS EAT PIGS BWAHAHAHAHAHA
March 10, 2009 at 9:27 pm
“The President is very much concerned about this. Kinakailangan magkaroon ng disiplina sa ranggo ng SEC kung talagang nangyari ito [There is a need to discipline the ranks of SEC if this has really happened],” deputy presidential spokesman Anthony Golez said.
Eto pa…lupit talaga ng mga politikong pinoy…hahahaha
March 10, 2009 at 9:36 pm
30 years back of forensic financial analysis of assets to all previous and current political leaders are a possibility if people will file charges in the city. They will face on going public scrutiny and aggressive lifestyle check.
The ACT to protect all whistle blowers should be under the security and supervision of our Police Force? but you see, managing this country requires fixing the shitty stuff of the police force and the other. It takes one hell of a good bullshitter to understand all these bullshits. This country is a piece of shit. I am so upset today.. :) sorry…
March 10, 2009 at 9:43 pm
leytenian…the country is full of shit because it is being run by shitty leaders, politicians, govt officials or simply called shitty clowns.
ALl the shits are connected…and thus results to nothing but shit. Even the people who chose these full of shit clowns are shits themselves…and if you read all of the artcles here in FV, the shit voters would even spend their time and efforts to defend these shit clowns…
SO to sum it up:
Shit voters + votes for shit politicians + shit politicians puts their shit sidekicks in govt agencies + govt agencies produces and provides shit services to the thit filipinos + the result is a country full of shit…not just bullshit but the nastiest shit you can ever imagine.
Your truly,
one of those shits that the is being shit upon by all the kinds of shit mentioned above.
March 10, 2009 at 9:52 pm
Juwan D..
well, let’s create a perfect team. maybe our leaders remain to think that the people of this country are still backward and will forever deal with all their shits. Soon, they will all go to the hole full of shit. LOL :)
March 10, 2009 at 9:57 pm
oh juwan d,
i have to correct some shit you mentioned. there will be no Shit voters if there were no SHIT who encourage such shit. The Comelec is one hell of a piece of shit. Remove all the people who work there and replace them with someone who can understand voting rights and how our people’s votes affect the economic growth of this country. In every department, the sole responsibility lies on the manager and the leader of such department.
It is legal for FV to file charges on some shits. Let me know when you guys are ready to clean up the shit? ang baho niyo… heheheh :)
March 10, 2009 at 9:57 pm
Leytenian…believe me, they dont think our people is backward..but they know that the people are corruptible..they know for a fact that if they give 100 pesos to 100 people..these 100 people will definitely die defending him..no matter if he robbed 1000 pesos from 100o people..none of it would matter..
look at the ombudsman right now…she surely didnt do her mandate as an ombudzman..but hey..surprise!!!! there are people who are going out of their way to support her…and us, we can only wonder why hahahahaha
the shits protect their fellow shits LOL :) :)
March 10, 2009 at 10:03 pm
leytenian…the people in FV??? will file a shit??? hahahaha the people here cant even agree to the fact that all politicians in our country are nothing but shit…i tell you, there a lot of shitty bloggers here who still openly supports shitty politicians…and even believe to the strongest possible term that their shit idols can clean up all the shits and take our country of out these shits…
the last writer here in FV who filed an impeachment complaint against the shit president was MLQ3…and he was in ¨elbow to elbow or beso to beso¨ with the son of reaaallllyyyy fulllll offf shitttttt politiciannnnnn….JDV!!!!!!!!!!!!
March 10, 2009 at 10:05 pm
i understand Juwan D on buying people’s vote. If the Constitution mandate and urge Comelec to disqualify anyone who buy votes and fully NOT Allow it and educate the people ahead of time , this country will create citizens and educated voters.
Mang Juan does not have time to clean up his shit. He will vote with 1000 pesos shit on it. But if Mang Juan is educated and aware that there will be no more 1000 pesos shit, then he may climb the guava tree without any shit. That should be the life of Mang Juan, free of shit. :)
March 10, 2009 at 10:13 pm
that’s why if Pat and Ding will endorse any politician or FV itself, then this website and its writers NOT COMMENTERS can also be a piece of shit? :)
March 10, 2009 at 10:15 pm
¨that’s why if Pat and Ding will endorse any politician or FV itself, then this website and its writers NOT COMMENTERS can also be a piece of shit? :)¨
and I say…HALELUYA AND AMEN TO THAT!!!!!
March 10, 2009 at 10:35 pm
Malacanang, Inc. and its core of advisers must be happy to check how this manifest sense of frustration, resignation, and desperation from our people (or the governed)measures in the scale.
We are like specimens in the laboratory – GMA and her close subalterns – know exactly how to deal with us.
If they feel people are afraid of them, all the more they will scare us – EOs, MOAs, etc. If they feel people like them, they give them more money than they need – politicians, allies, rabid supporters. If they feel people are ambivalent, they give them positions in government – directors of PAGCOR, other bureaus. If they feel the CBCP does not love GMA, they “buy” the bishops themselves as if they were a commodity, hence their pastoral letters are hardly understandable even to the idiots or morons.
Thus, look at Congress, or the Senate. Couldn’t it be that their performance in public hearings are actually “graded recitations” of the more rabid and loyal allies who must show they are smarter than a Grave V pupil since right after the show, they troop to Malacanang and receive their “whatever” or assemble around some hotel in Katipunan?
March 10, 2009 at 10:59 pm
It is really a Mess, all have to be fixed.
The System of the SEC is broken. It has been
broken for many years. It has just overflowed
now. A disaster waiting to happen.
The SEC Management must initiate to fix their
System. So that, no disaster like this will ever
happen again.
The funds came from the sweats, bloods and tears
of ordinary Filipinos. Some from the OFWs.
It is really a financial tragedy for us, that
we have People from both the Government and the
Private Sector in coopeartion to steal funds and
scam people.
March 10, 2009 at 11:01 pm
Timoteo…
Only in D Pilipins!!!!
Damn!!!! Im really proud to be pinoy hahahahahahahahaha
March 10, 2009 at 11:02 pm
but, Juwan, if we follow your reasoning that all of them including GMA are shit and therefore we don’t vote for anyone come 2010 election, what do you think would be the consequence of that election? A no government of the people, by the people, and for the people? heheh.
March 10, 2009 at 11:18 pm
leytenian, juwan,
I pay my taxes.
By definition I believe in the institution of government and until the day comes that politics in itself is abolished,along with our republican structure, I will eventually come at a determination who, if I decide to vote, should replace GMA.
In the good ‘ol US 0f A, MSM make endorsements.
So we perhaps here at FV should undertake a straw vote you think?
There is actually an on going survey for 2010, you must know.
March 10, 2009 at 11:21 pm
bert,
Did I ever say we dont vote come election time? I myself will vote…but you will never hear me campaigning or defending any politician for that matter. Those who openly defend and campaign for these piece of shits are the reasons why they (the shits) truly believes that they are doing well in whatever position they are into….and that robbing all of us is perfectly OK!!!!!
March 10, 2009 at 11:28 pm
Ding,
who doesnt pay taxes? even the unemployed they pay taxes..for every candy you buy you pay taxes…
We should have a different kind of survey…instead of stressing the good things a politician has done…why not list down the negative things a politician has done..and the good things he hasnt done?
instead of weighing things in consideration of the good things…why not weigh things in consideration of the negative things.
For example:
Sino sa mga politiko ang nakagawa ng bagay na nagpaunlad sa pilinas????? ang sagot wala.
Sino sa mga politiko ang nakagawa ng bagay na nagpataas ng moral ng mga pilipino sa buong mundo??? ang sagot WALA
Sino sa mga politiko ang hindi nangungurakot?? ang sagot WALA
Sino sa mga politiko ang tumitigil at sumusnod sa batas trapiko????? ang sagot WALA
Sino sa mga politiko ang nakapag-ayos sa SSS at GSIS??? ang sagot WALA
Sino sa mga politiko nakagawa ng bagay para tumaas ang kalidad ng pamumuhay ng pilipino at bumaba ang halaga ng mga bilihin??? ang sagot WALA
Sino sa mga politiko ang may bodyguards na hindi nanggugulpi ng sibilyan??? ang sagot WALA
Sino sa mga politiko ang rumerespeto sa mga nagbabayad ng buwis o sa regular na mamayan??? ang sagot WALA
o ano pa…madami pa…
March 10, 2009 at 11:50 pm
So kapatid, ano ang iyong mungkahi?
Rebolusyon? (wink, wink)
March 10, 2009 at 11:58 pm
Ding,
bloodshed is not my thing…lalo na kung ito ay lalong magpapahirap sa ating mga kapatid na pinoy.
Kung ano man ang mungkahi ko…wala din mangyayari kung ipagsisigawan ko man dito…kayo na ang bahalang humusga..kung ano ang nararapat ninyong gawin.
Ang aking pakay lang ay dedebatihin ko sinoman dito ang syang mangangampanya o dedepensa sa sinoman sa mga kasalukuyang politiko.
mga simpleng tanong na nangangailangan lang din ng simpleng sagot…
:)
March 11, 2009 at 12:08 am
Ibagsak… ang kabulukan…Ibalik… ang delikadeza… Itayo…dangal ng bayan!
March 11, 2009 at 12:16 am
si Pat yung may panukala ng rebolusyon hehehe
siguro may pangako sa kanyang maging leader pag nanalo ang rebolusyon hahahaha
March 11, 2009 at 10:51 am
“I myself will vote”
Why, if you believe it’s all for nothing?
March 11, 2009 at 3:42 pm
and, Juwan, you said you are going to vote come 2010 after all. Would that mean you are going to vote for shit and nothing but shit? Or perhaps,you mean you are going to write Juwan_D on your ballot?
March 11, 2009 at 4:23 pm
@Bert,
That am not going to tell you..or anybody…But I will exercise my right to vote..
@Marcelo,
Did I ever say voting is for nothing? read the post carefully please. Dont be like bert hahahahaha
March 11, 2009 at 4:53 pm
but, Juwan, it’s very easy to see you have no other choice. you said all of them are shit, so if you vote you will be voting for shit, if not you will be voting for yourself.
therefore, even if you won’t tell who you will vote for on 2010 I know already. heheh.
March 11, 2009 at 5:02 pm
Bert,
YOu can guess all you want..but still am not going to tell you. If im going to vote for any of the shits…am not going to publicize my vote. If I am going to vote for myself, that is my prerogative, isnt it?
However, the purpose of not publicly talking, supporting, defending and even debating about these piece of shit will give them the signal that the public is no longer interested in them. By not giving them the reason to think that their are people out there who are willing to defend and fight for them..might just change the way they do politics.
March 11, 2009 at 11:42 pm
An article in inquirer.net compared Celso delos Angeles to Joker due to his wise and strategic criminal act. Accdg to the said article, Joker killed all his cohorts in the opening scene to solely enjoy the money that they rob. Celso and his former associates are accusing each other for the failure of legacy. the situation seems quite serious in other forum. there is a separate big thread in pinoymoneytalk.com solely focus on legacy.
sana naman ay makonsensya ang legacy pati na rin ang mga collaborators nito sa mga depositors.
March 12, 2009 at 1:24 am
If you will vote, or not not. People will be
elected… We hope they are the right people.