Legacy owner De los Angeles transferred to Leyte jail

MANILA, Philippines – Businessman Celso de los Angeles, principal suspect in the Legacy financing scam, was transferred yesterday morning to the provincial jail of Ormoc City in Leyte while awaiting trial for multiple charges of syndicated estafa. 

De los Angeles was arrested last week by Quezon City police in a condominium unit in Cathedral Heights along E. Rodriguez Avenue.

Judge Clinto Nuevo of the Ormoc City Regional Trial Court Branch 12 issued the arrest warrant.

Quezon City police Chief Superintendent Antonio Yarra, head of the Criminal Investigation and Detection Unit, said De los Angeles was taken out of his detention cell around 2 a.m. 

Last year, the BSP filed numerous syndicated estafa charges against De los Angeles and his conspirators for allegedly “misappropriating” P487 million worth of petty deposits in the First Interstate Bank of Kananga, Leyte.

The BSP has placed 13 Legacy rural banks – which had a combined asset base of at least P14 billion – under receivership of the Philippine Deposit Insurance Corp. (PDIC) for insolvency and engaging in unsafe banking practices. 

BSP legal counsel Elmar Galacio said the other pending syndicated estafa cases against the Legacy Group involve the Rural Bank of DARBCI for misappropriated funds worth at least P1 billion; the Pilipino Rural Bank for at least P250 million; the Rural Bank of Bais, in Cebu (P700 million); the Rural Bank of Carmen in Cebu (P400 million); and the Rural Bank of Bais (P500 million).

Galacio said aside from the pending cases of syndicated estafa, the other members of the Legacy Group are also facing other criminal cases before the Department of Justice (DOJ) and the courts for falsification of documents.

“With De los Angeles’ commitment to the Leyte provincial jail, it is hoped that the criminal proceedings for the syndicated estafa will be expedited starting with the arraignment of the criminal mastermind and the arrest of the other co-conspirators,” Galacio said.

He said the scam perpetrated by the Legacy Group is the largest organized swindling in the local rural banking industry.

Galacio said they have also filed a motion for the early arraignment of De los Angeles and the four co-accused before the same court sala in consideration of De los Angeles’ medical condition.

The accused is suffering from stage four cancer of the throat.

The other accused with pending arrest warrants are Alexis Petralba, Virgilio Odejar, Roy Hilario, Antenor Limpin, Carolino Hinola, and Namnama Pasetes.  

Hinola and Pasetes had filed a motion for reconsideration claiming they cannot be arrested because they were “under Senate custody.”

Galacio said the DOJ had denied the motion this week. – With Jerry Botial