Legacy “Will he or won’t he”?

March 9, 2009

Today’s Senate hearing was pure dynamite. It was revealed that with the complicity of a top Commisioner of the Securities and Exchange of Commission,  Ac ertain Celso de los Angeles (read: of the Angels) was able to siphon almost P500,000,000.00 pesos from investors and otherwise truting Filipinos who wanted to guarantee their childrens school plans and the like.
It has been revealed that de los Angeles used the Legacy money for his campaign when he ran and won as mayor of  Sto. Domingo, Albay.,  The money was also used to maintain his yatch, and for houses that are allegedly for his children, who were not identified.  What made the crowd in the Senate was when Senatory mar Roxas was presenting the 55  and older mothers of the children who were supposed to benefit from the study plans, de los Angeles struck up a conversation with someone sitting beside him while scowling at the parents, who were narrating their experiences at the hands of de los Angeles and his staff.  It doesn’t appear like an easy return of the investors money as it was narrated that the money went to various places and mostly used for de los Angeles personal use.  A Commisioner of the SEC, Jesus Martinez, was also present, and it was revealed that he was aiding de los Angeles pullk off this racket.  He reportedly built a 200 million peso which he claimed belonged to his daughter.  At this point of the hearing, Senator J Ponce Enrile asked for the resignation of Comm. Martines. It is not known whether he will comply with Enrile’s order.  Today was not a good day for Filipinos all over the world.  The question is whther de los Angeles will return the stolen money and whther Martines will resign are both big question marks.


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