Financial Crisis: The Philippine Version

[shadow]

comment teka? natatandaan nyo yun first week ng showing ng Transformers II, may bagyo noon eh. nabalitaan ko yan Nestle President pinauwi ng maaga ang buong Nestle as in 3pm kasi may bagyo daw na hindi naman gano kalakas. yun pala some of them had free passes or they sponsored transformers II, ang nanonood sila lahat ng transformers ii with teh families

sabi ko sa sarili ko nun, anong klaseng presidente 'to parang skul bukul. so yun malamang kaya sinara ang Nestle dito, magkarun ba naman ng ganung klase presidente eh

eh hinde nga isasara eh...so mali theory mo

[April Boy]

not attacking you in anyway, I just happen to also read it few days ago then read the denial this morning.

Nestle just announced that they will spend 4 billion pesos herer in our country for the next few years.

So the Indonesian info is "kuryente"

[Monseratto]

Anyone still remember Celso de los Angeles and the Legacy Group Scam? Died a misreable and broken man...

MANILA, Philippines -- Celso de los Angeles, the principal suspect in a scam that used a network of rural banks to bilk thousands of depositors of billions of pesos died Tuesday morning of cancer.

De los Angeles’ lawyer, Noel Malaya, and Philip Piccio of the PEP Coalition, which had been helping victims of the so-called Legacy scam, said he died at the St. Luke’s Medical Center in Quezon City, where he had been under hospital arrest for several cases of syndicated estafa (fraud).

Piccio called De los Angeles’ death “unfortunate.”

Nevertheless, he said they are studying the possibility of filing charges against De los Angeles’ wife and son instead.

"The fight will continue. It's unfortunate but we will meet with our lawyers to determine our next move," Piccio said.

"I don't feel anything but I feel other people's sorrow. One lady from Cebu who has cancer was crying to me because she lost P20 million from De los Angeles," he added.

De los Angeles founded the Legacy Group, which operated rural banks, a pre-need firm and financing companies that offered high interest rates to lure in clients, many of them small merchants, wage earners, tricycle drivers and pensioners.

When the network collapsed, it reportedly owed as much as P30 billion to some 130,000 depositors.