MANILA, Philippines -- Four of five Filipinos were by a prominent restaurateur of being local dummies of bankrupt investment bank Lehman Brothers posted bail this week after a Mandaluyong court?s issuance of a warrant of arrest last September 4.

Records of the Mandaluyong Regional Trial Court Branch 214 showed that accused Norman H. Macasaet and Carlos Manalac applied for provisional liberty on September 17, while Edilberto Castañeda and Ana Marie Katigbak posted bail the following day.

Only Michael C. Rabonza has not submitted himself to the arrest warrant.

All five are incorporators of the firm Philippine Investment One Inc. (PIOI).

Judge Edwin Sorongon issued a warrant of arrest against the five after finding probable cause in a complaint filed by restaurateur Victor Villavicencio, president of the Triple V group of restaurants, for violation of the Anti-Dummy Law.

Villaciencio claimed the five only stood as dummies for Lehman Brothers and that the US firm is the actual owner of PIOC, which had bought his former restaurant chain from then Equitable-PCI bank under the Special Purpose Vehicle Law.