Banco San Juan not part of Legacy

MANILA, Philippines - The Rural Bank of San Juan (Banco San Juan) yesterday denied that they are a member of the Legacy Group of Celso de los Angeles. The bank likewise denied that people from Legacy maintained an account with them.

In a letter to The Philippine STAR, Rural Bank of San Juan president Jobel Go Chua clarified that they are not connected in any way to Legacy and its people, contrary to a paragraph in a news item that came out in this paper last March 17, 2009 titled ‘SEC chief’s husband sold Pajero to Legacy lawyer.”

He said a portion of the story that states, “Martinez also allegedly received a check worth P1.475 million issued by the Rural Bank of San Juan – one of the rural banks under Legacy Group – to pay for the Ford Expedition that the bank supposedly acquired from Martinez,” is wrong.

“The Rural Bank of San Juan (Banco San Juan) is not a member of the Legacy group nor any other business conglomerate or umbrella owned and controlled by Mr. Celso de los Angeles... We are a 55-year-old rural bank with 30 branches in Luzon and with close to P2.0 billion in total resources,” Chua said in his letter.