Philippine Daily Inquirer issue entitled 'BSP files P1-B syndicated estafa case vs Legacy owner' [dated February 27, 2009] shows an example of breach of trust in pre-need plans, if not "estafa" committed by a syndicate according to BSP.

There are other news on the charges against Legacy.

"Pre-need plans" are contracts which provide for the performance of future services or the payment of future monetary considerations at the time of actual need, for which planholders pay in cash or installment at stated prices, with or without interest or insurance coverage and includes life, pension, education, interment, and other plans which the Commission (Securities and Exchange Commission) may from time to time approve (Sec. 3.9 of the Securities Regulations Code [SRC]).

Those who have invested are in quandary since the closure of all Legacy companies as early as December 8, 2008 "leaving a huge number of investors empty-handed".