Legacy Group owner pleads innocent to syndicated estafa


Posted at Aug 27 2010 12:05 PM | Updated as of Aug 27 2010 08:05 PM

MANILA, Philippines - Ailing Legacy Group of Companies owner Celso de los Angeles pleaded not guilty on charges of syndicated estafa during his arraignment in Ormoc, Leyte.

De los Angeles faces five syndicated estafa charges filed by the Bangko Sentral ng Pilipinas involving P487 million worth of solicited funds received from depositors of the First Interstate Bank of Leyte. The bank was closed in December 2008.

"I want to clear my name before I die," the ailing de los Angeles said in an interview.

The prosecution, however, is wondering why de los Angeles seems uninterested in a quick trial as he requested more time to look for a lawyer.

De los Angeles is reportedly suffering from pancreatic cancer.