Excerpts from PRIVILEGE SPEECH of Senator Enrile

DELFIN P. ANGCAO

“Delfin Angcao. He used to work in the SEC. He provided Philcomsat Holdings with connections in the Securities and Exchange Commission. He was an assistant of San Jose and associate of Castillo, Laman Law Office. He provided most of the legal documentation of the fraud, making them appear to be corporate transactions, sham transactions. He assumed the position as corporate secretary when embarrassment and shame caused San Jose to resign as Philcomsat Holdings Corporation director and corporate secretary.”