German investor seeks help on money in banks

CEBU - A German national, who put P4.5 million in various banks of the Legacy Group, was the first client to seek assistance at the one-stop center set up by the Cebu City Government.

Alfred Beker, a resident of Cebu, went to the action center at the Press Information Office (PIO) at the City Hall yesterday morning.

Beker, in an interview, said he asked for assistance in how to go about claiming the money he invested in the six banks, which are now under receivership of the Philippine Deposit Insurance Company (PDIC).

He said P700,000 was placed as deposits while the rest are in the form of investment and credit.

He said these are scattered in all the six Legacy Banks including those in Negros Oriental.

Former Cebu City Councilor Manuel Legaspi, who is overseeing the one-stop action center, said they could only assist Beker by referring him to go where his money have been placed.

Legaspi said, a depositor can only claim from the PDIC up to P250,000 for each personal or single account and up to P125,000 for joint accounts.

As to his investments Legaspi advised the German national to negotiate directly with the said banks.

The one stop action center was set up upon the instructions of Cebu City Acting Mayor Michael Rama in order to form linkages with government agencies and authorities concerned to help Cebuanos.– Ferliza Contratista/NLQ   (THE FREEMAN)