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Plea over Legacy criticized

AN OFFICIAL yesterday slammed the offer of Legacy Group owner Celso de los Angeles to plea bargain to exclude his wife and son from the syndicated estafa charges filed against them, saying that would put the complainants at a disadvantage.

Depositors, plan holders, and investors in the failed Legacy Group’s banks and pre-need firms have filed the charges against De los Angeles and other Legacy officials, accusing them of swindling the public through a pyramiding scheme.

Senator Mar Roxas, chairman of the Senate committee on trade and commerce, said he would fight any plea-bargaining attempt that De los Angeles might arrange with the Justice Department.

De los Angeles had told Justice Secretary Raul Gonzalez that he would not contest the criminal charges against him in exchange for dropping the same charges against his wife Maria Concepcion and son Nicolo Martin.

“Don’t be fooled. Prioritize the welfare of those duped by De los Angeles,” Roxas said in a statement.

“Celso is now negotiating with the government because he knows he’ll really get it. Let’s not be fooled into accepting something much less or even nothing for Legacy’s plan holders and depositors.”

Roxas said a Justice Department task force should be allowed to pursue its investigation of the Legacy Group, adding he doubted if an inter-agency task force ordered created by President Arroyo could do a better job.

“The victims are crying out for immediate justice, not another ‘Task Force Turtle.’ Justice delayed is justice denied,” Roxas said.

The Securities and Exchange Commission and the Bangko Sentral should stop dragging their feet and instead start confiscating De los Angeles’ assets for distribution to the complainants, he said. Fel V. Maragay

 

Friday, March 20, 2009
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