BSP set to file fresh charges vs Legacy banks

MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) is set to file a fresh wave of fraud charges against Legacy rural bank officials including Sto. Domingo, Albay Mayor Celso de los Angeles Jr., former chairman of the Legacy Group. "Our investigators have [completed] their evidence. Right now they are finalizing the report. It will be submitted to the government by the end of the week," Juan D. de Zuñiga, Jr., BSP assistant governor, said in a public inquiry at the House of Representatives Monday. The BSP is also considering pressing charges against Judge Nina Antonio-Valenzuela of the Manila Regional Trial Court and Judge Apolinario D. Bruselas of the 8th division of the Court of Appeals for stopping the closure of the Legacy banks, which is prohibited by law. The central bank has charged officials and agents of the rural banks of Parañaque, DARBCI in South Cotabato, San Jose in Batangas, and Bank of East Asia of falsification and making false statements. Meanwhile, Ramon Diño of the "Legacy Group’s Citizens Crime Watch Center" accused Mr. de los Angeles of being a member of a syndicate that has links with several government agencies and officials. Mr. De los Angeles denied this and claimed Mr. Diño had tried to extort money from him in exchange for not disclosing damaging information. - BusinessWorld