DEADBOL (Depositors Enabling All Depositors of Banks of Legacy vs PDIC) had its first organizational meeting two days ago. Though only a handful of members showed up, it was expected since organizing a new group may seem simple, but is definitely difficult. Furthermore, many members live outside of Metro Manila. However, it was all worth it because we learned so many new things from one member.

She was a former marketing staff assigned in the legacy preneed office located along Quezon Ave. During the course of our discussion, she divulged the following:
a. Even up to December 8, 2009, all of the staff assigned in her office were advised that though other legacy companies would close, the rural banks would remain open. That CGA (pronounced siga), the company code of Celso G. de los Angeles, would fight to keep the banks open;
b. They were given separation pay, but in the form of CTDs from RBOP. It was Edwin of RBOP Ortigas who personally delivered those worthless CTDs late in the evening to their office where everybody was waiting. Even separation pays in the amount of P10,000 were given as bank certificates, which our member acknowledges as practically uncollectible from PDIC;
c. That many marketing officers and agents, like her, had invested a lot of money in the pnbb buyback plans;
d. That their office was raided by a joint team of NBI/SEC, as were the offices in Scout Borromeo, QC and World Center Bldg, Makati. However, she said that the Vernida 1V Condominium at 128 LP Leviste St., Salcedo Village, Makati City offices was not raided: she found this lapse very mysterious and illogical since all of the files and documents were moved there to the 6th floor. She said that truckloads of files were brought to the building which she knows is owned by CGA.

She also mentioned that in the first week of December, she was assigned to encode the engine nos. of motorcycles, the products of Legacy Motors. She asked her boss where the motorcycles were, since she had not seen them, and she was told that the motorcycles, more than a hundred in number, had already been delivered to Prospero Nograles, the Speaker.

Prosperous Nograles admitted that he still had a collectible investment of about P18 million in legacy. So did this amount include the value of the motorcycles in his possession? Was he just an investor or was he more than that?

And to top it off, she mentioned that every month, in the legacy office, she regularly saw a sealed envelope from Ponce Enrile Reyes & Manalastas Law Offices. We checked the office of this law firm, also known as PECABAR, and viola! its address is the 3rd floor, Vernida IV Bldg, the same office of Legacy where all the files are stored. And guess who is the senior partner of PECABAR? Of course, Senate President Juan Ponce Enrile. So many questions have been answered in this meeting.