The Bangko Sentral ng Pilipinas (BSP) on Tuesday filed with the Department of Justice its third case of syndicated estafa against Legacy Group owner Celso G. delos Angeles, Jr. and other officers, this time for fraudulently siphoning off P500 million worth of deposits and investments from the Rural Bank of Bais Inc.

This is the sixth syndicated estafa case filed against Legacy officers and Celso de los Angeles, the fifth case lodged at the justice department, and the fifth case filed by the BSP. Several depositors, the Securities and Exchange Commission, and the Philippine Deposit Insurance Corp have filed various criminal and civil cases in recent months following the closure of the 12 rural banks and 3 pre-need firms under the Legacy Group.

Government agencies are required to course their legal actions through the justice department, which would then compile these cases. Once the justice department completes its preliminary investigations, it could file these cases in court and eventually attach the assets of De los Angeles and the other respondents.

Syndicated estafa is a non-bailable criminal case.  

Bais bank

In its filing, the BSP cited documents and sworn testimonies of persons and bank officers involved in transactions of the Negros Oriental-based Rural Bank of Bais, which closed on December 8, 2008. It owed P784 million to depositors but only had P134.6 million in cash at the time.

BSP said this case was based on the respondents conspiring and acting "as a web of swindling syndicate that launched, orchestrated, unleashed and perpetrated a systematic and grand series of misappropriations, conversions and siphoning of funds derived from the general public."

Named respondents were:  Mr. Celso de los Angeles; Mr. Alexis S. Petralba; Ms. Namnama D. Pasetes; Ms. Carolina G. Hiñola; Mr. Roy Hilario; Mr. Virgilio A. Odejar; Atty. Christine Antenor Cruz-Limpin; Atty. Norman Tiongson; Atty. Victoria “Binky” Noel; Mr. Arnel Sulquiano; Mr. Ronaldo Alix; Mr. Mike Basangan; Mr. Rommel L. San Pedro; Mr. Francisco Uy Lim; Ms.Josephine M. Guevarra; Mr. Levy K. Trijo; Ms. Sofia M. Aleli; “John Does and Jane Does.”

Other cases filed by the BSP against Legacy are:

• 116 counts  of falsification of public and commercial documents plus two counts of false statements against 18 officers, employees, and agents of four (4) rural banks belonging to the Legacy Group, filed on February 6;
• 49 counts of falsification of public and commercial documents against 16 Legacy Group officers, employees and agents; and
• one case each of false reporting and false statement.

Pasetes and Hinola, both top level Legacy executives, previously testified in a senate hearing where they provided documents that showed how former SEC commissioner Jesus Martinez, who oversaw the pre-need companies under the Legacy Group. They have asked to be considered as state witnesses in return for dropping the estafa cases against them.

BSP's previous estafa cases against were based on documented transactions in rural banks based in General Santos, Cebu City, and Leyte