Senator Roxas condemns Manuel Gaite appointment to SEC

Liberal President Senator Mar Roxas said today President Gloria Macapagal-Arroyo's appointment of Deputy Executive Secretary Manuel Gaite to the Securities and Exchange Commission (SEC) reflects the administration's lack of decency and concern for public opinion of its conduct.

"Wala talagang malasakit ang administrasyon sa iniisip ng publiko (This administration does not care for what the public thinks). At this time that the SEC's reputation is crumbling down, President Arroyo has appointed someone whose own credibility is as low as the one he's replacing," Roxas said.

The Ilonggo senator said Gaite's appointment was also apparently a reward for his role in Malacanang's attempts to silence NBN-ZTE broadband deal whistleblower Rodolfo "Jun" Lozada Jr.

"Anong patunay ni Gaite na meron siyang 'good moral character'? Isa ito sa mga itinakda ng batas na kwalipikasyon para sa mga SEC commissioner (What proof could Gaite show that he has 'good moral character?' This is one of the qualifications set by law for SEC commissioners," he stressed.

The Chairman of the Senate Committee on Commerce and Trade cited Section 4.2 of the Securities Regulation Code on the qualifications for SEC commissioners, which states, "The Commissioners must be of good moral character, of unquestionable integrity, of known probity and patriotism, and with recognized competence..." SEC commissioners are Presidential appointees.

"Kung seryoso talaga ang Pangulo na linisin ang SEC at ibalik ang tiwala ng publiko sa mga institusyon, i-atras niya agad ang appointment ni Gaite at maghanap siya ng taong hindi matatawaran ang integridad (If the President is really serious in cleaning up the SEC and recovering the public trust in our institutions, she should immediately cancel Gaite's appointment and headhunt for a person whose integrity cannot be assailed)," he said.

Gaite had been selected by the President herself to replace former SEC Commissioner Jesus Enrique Martinez, who took flak for allegedly receiving a house and lot and a sports utility vehicle, among others, from Legacy Group owner Celso de los Angeles.

Monday, March 16, 2009 | posted in celso de los angeles, jesus martinez, legacy group of companies, manuel gaite, mar roxas, pgma, philippines, president, rodolfo lozada, sec | 0 comments [ More ]

Senator Roxas to planholders: Senate will pursue Legacy scam

The Senate will not bring to a close its inquiry into the financial state of the pre-need business until it has established liabilities of government officials and private individuals in the reported looming collapse of the industry, Liberal President Senator Mar Roxas promised aggrieved plan-holders.

"Makakaasa kayo, hindi namin titigilan ito. Kawawang-kawawa naman ang ating mga kababayang nabiktima nitong mga scam na ito kung ihihinto natin ito (We will not stop this investigation in the interest of the victims of this scam)," he said.

"Malinaw na malinaw, parang bumuka nga langit at lumabas ang kaliwanagan. Nakita natin kung paano minanipula ni Celso de los Angeles 'yung pera ng Legacy para sa kanyang pansariling interest (As if the skies have opened, it is very clear now how Celso de los Angeles manipulated Legacy's funds for his personal interest)," he added.

The senator said he will continue the probe for the sake of the thousands of plan holders and depositors whose dreams have disappeared due to the Legacy mess, and will not let politics compromise this goal.

"That's one vote I don't care losing," Roxas said in relation to a swipe made by De los Angeles that he would vote for "anybody except... you just fill in the blanks."

The chairman of the Senate trade and commerce committee looking into the pre-need business and the collapse of De los Angeles' Legacy group, revealed that the committee has been deluged with calls from other potential witnesses volunteering to testify and bare more information on the illegal transactions of the Legacy group of companies.

"Sinisiguro po muna natin na may dokumentasyon. Nakita naman natin ang nangyari noong Lunes, merong dokumentasyon ang mga witnesses kaya nahirapan si De los Angeles at si (SEC Commissioner Jesus) Martinez na paikutin ang mga senador (We are making sure that these witnesses have documentary evidence to back their allegations. Like the witnesses who testified last Monday, they have documents with them that was why it was hard for De los Angeles and Martinez to contradict their claims)," he added.

Legacy Consolidated Plans Incorporated Chief Operating officer Carol Hinola has testified that Martinez was a "close friend" of De los Angeles who helped the latter with his problems at the SEC. She had also claimed the Legacy Consolidated Plans Inc. (LCPI) had paid for a P3.3 million house and lot which Martinez gave to his son. Martinez is also a second cousin of Paranaque Rep. Ed Zialcita, whom former chief finance officer Santos alleged was paid P1.8 million by LCPI in "consultancy fees."

The two witnesses have claimed that pre-need premiums were diverted to De los Angeles' personal bank accounts and for his mayoralty bid during the 2007 elections.

Roxas said once De los Angeles makes true his commitment to allow senators to examine his private bank accounts, the committee would ascertain if company funds were indeed siphoned off to his personal funds.

"Iisa lang ang alam natin, ang ating mga kababayan, ang mga mahihirap na nagtiwala, nag-ipon, kinapital nila 'yung kanilang pawis, 'yung kanilang dugo, 'yung kanilang luha, wala silang pinanghahawakan ngayon. Susundan natin ang pera, aalamin natin ang buong katotohanan dito para sila naman ay may tsansa na ma-recover ang kanilang mga pera (There is only one truth in all these: those who put their trust in Legacy, those who invested their hard-earned monies in Legacy, they are now holding empty bags. We will follow the paper trail of the Legacy funds and establish the truth so they can recover even just a small amount of their investments)" he vowed.

The Senate trade and committee had provided security and personal protection to the two former Legacy key officers. Roxas said he would coordinate with other committee members and with Senate President Juan Ponce Enrile on the need to also provide security to the other witnesses.

Tuesday, March 10, 2009 | posted in carol hinola, celso de los angeles, ed zialcita, jesus martinez, juan ponce enrile, legacy group of companies, mar roxas, pre-need code of 2008 | 2 comments [ More ]