In the recent Senate hearing on the Legacy scam issue, Senator Mar Roxas thundered why the Bangko Sentral ng Pilipinas (BSP) and the SEC failed to prosecute Legacy owner Celso delos Angeles.
The good senator seems to insinuate that delos Angeles enjoys the protection of the high and mighty.
Since 1985, Delos Angeles was already blacklisted by the BSP yet managed to return to the banking sector.
Some say, the closeness between Delos Angeles and Speaker Prospero Nograles explains it, since even the brother of the Speaker was appointed as PDIC President.
Some even surmised that this Legacy thing is really a big syndicated racket, really designed to fail, so that Delos Angeles and his associates in the syndicate would be able to get 14 billion pesos of public money.
Imagine, Delos Angeles just invested a few millions to acquire certain banks and put it under the Legacy bank network. He then, crafted this double your money scheme to entice more depositors. When they collected these deposits, they then maneuvered to spread these deposits to other banks under the Legacy bank network, cutting them down into comfortable 250,000 peso accounts.
The PDIC meanwhile, said that 6.5 billion worth of Legacy bank deposits are questionable ones, suggesting that most probably these are just proxy deposits meant to defraud government of money.
Yet, despite these, PDIC is still willing to finance 14 billion of the people's money to finance the deposits of some 140,000 depositors.
Quite questionable, is'nt?
Why is it that delos Angeles remains a freeman until now? Why is government still adamant or refuses to arrest him and throw him in jail?
A lawyer friend of mine provided me an answer---Celso delos Angeles is a big contributor to the campaign kitties of certain officials, including.....Mrs. Gloria Macapagal-Arroyo.
What Malacanang officials fear is the potential expose of certain receipts and documents showing campaign contributions of Mr. delos Angeles to certain personalities.
What if there's a pandora's box of statements which bear the code names of certain government officials, including Arroyo's?
This is starting to get really interesting. More on this in later entries.
No comments:
Post a Comment
Thank you very much for reading my blog. You inspired me. But if you intend to put your name "anonymous", better not comment at all. Thanks!