Legacy owner faces arraignment Monday on estafa charges

Posted at 09/17/2011 6:02 PM | Updated as of 09/18/2011 4:58 PM

MANILA, Philippines - Legacy group owner Celso delos Angeles is set to appear in the Ormoc City Regional Trial Court on estafa charges filed against him by state-run Philippine Deposit Insurance Corp. (PDIC).

Delos Angeles, who allegedly siphoned off P30 billion public and government funds into a scam, will be arraigned Monday after missing court dates in relation to the PDIC case seven times.

PDIC filed the case against delos Angeles at the Bacolod City RTC last year, but the arraignment will be done in Ormoc because it is near Tacloban City where delos Angeles is staying under hospital arrest.

The PDIC said delos Angeles' arraignment had been postponed seven times "due to the failure of the jail warden to bring the accused for various reasons."

Aside from the PDIC case, delos Angeles is facing seven syndicated estafa cases filed by the Bangko Sentral ng Pilipinas (BSP) at the Ormoc court.

Both the PDIC and the BSP accused him of masterminding a scheme that allowed him to take deposits from the Legacy rural banks and put them into companies he allegedly owned.

Legacy had 12 rural banks which were closed and placed under the PDIC's receivership almost simultaneously in 2009.

PDIC is paying a total of P14 billion in insured deposits in the Legacy banks.

Several arrest warrants were issued for delos Angeles in 2009, but he was able to evade prison after being diagnosed with throat cancer.