Raps vs Legacy owner pushed anew

MANILA, Philippines - It's the Central Bank's turn. Instead of grilling Legacy Group owner Celso de los Angeles Jr., lawmakers at the hearing of the House Committee on Banks and Financial Intermediaries on Tuesday questioned the Bangko Sentral ng Pilipinas (BSP) for failing to file charges against De los Angeles despite calling the Legacy Group a "syndicate" in its earlier statement. BSP Governor Amado Tetangco Jr. assured that they would file cases "within the week," but Albay Rep. Edcel Lagman reminded BSP officials that they made the same promise in last week's hearing. Lagman asked BSP officials whether lawmakers can expect any progress in the filing of charges against De los Angeles and others responsible for the collapse of the banks and pre-need firms under the Legacy Group. Camarines Sur Rep. Luis Villafuerte, meanwhile, said there may be a need to propose legislation that would ensure BSP officials are insulated from possible conflicts of interest after BSP Deputy Governor Nestor Espenilla admitted that three officials of the Rural Bank of San Jacinto are his sisters. Espenilla however denied conflict of interest, saying he inhibited from an investigation on San Jacinto ’s financial status done by “delegated authorities." But Villafuerte's questioning was cut off when Cagayan de Oro Rep. Rufus Rodriguez pointed out that since the Rural Bank of San Jacinto was not part of the Legacy Group, Villafuerte's questions were not relevant to the House investigation. The protest prompted Villafuerte to lash out, saying he must be allowed to resume his interpellation and that Rodriguez "can defend whoever he wants to defend." The comment prompted a shouting bout between the two lawmakers. “We are here not to protect anybody!" Rodriguez said. “If he (Villafuerte) wants to investigate, let him file a resolution but now is not the time, it’s not in the agenda." The incident prompted committee chair and Manila Rep. Jaime Lopez to suspend the session for a minute. For his part, Nueva Vizcaya Rep. Carlos Padilla said during the hearing's resumption that issues against the BSP should not be ignored, even as he said that he was not "lawyering" for De los Angeles and does not want to make the Legacy Group owner appear as a "victim." During the hearing, De los Angeles belied the BSP's presentation on Monday that showed the Legacy Group's alleged "fraudulent schemes." De los Angeles, who presented his banks' business plan before the panel, said there was no truth to BSP Director Chuchi Fonacier’s claim that the P3.7 billion motorcycle loans given to 44,000 borrowers were fictitious. “The facts are incomplete and therefore, misleading," he said, explaining that borrowers interviewed by BSP investigators would naturally say that they have not received the motorcycles from Guangzhou, China because there is a 90-day ordering period. De los Angeles also said the BSP presentation contained "allegations, not evidence" and that it "failed to specify any wrongdoing." - Johanna Camille Sisante, GMANews.TV