Campaign Against the Return of the Marcoses and Martial Law
On the Ill-gotten Wealth and Corruption of the Marcoses
ON ITS LEGAL TEETH: REEKING CORRUPTION OF THE MARCOSIAN RULE
Hidden ill-gotten wealth makes Marcoses richest in Philippines
September 21, 2021
by IBON Foundation
How have the Marcoses been able to be so politically influential even long after being driven out of Malacañang in disgrace in 1986? The failure to recover their stolen loot counts for a lot.
2018: What Transpired in the Recovery of Ill-Gotten Wealth via PCGG
The total cash recoveries, interest income and proceeds on the cash redemption value of government securities, and time deposits of PCGG for FY 2018 amounted to P1,729,260,781.86. Since its inception in 1986 up to 31 December 2018, the Commission has recovered the total amount of PhP172,659,719,723.35.
2019: Developments of PCGG on the Cash Recoveries from the Marcoses
The PCGG was able to remit a hefty amount of Four Hundred Ninety-One Million Seven Hundred Eight Thousand Nine Hundred Eighty-Five pesos (P 491, 708, 985.00) to the National Treasury realized from various sources.
As of December 31, 2019, of the total remittances to the government coffer, the amount of One Hundred Forty-Six Million Four Thousand Eight Hundred FiftySeven pesos (P 146,004,857.00) was funneled to Comprehensive Agrarian Reform Program (CARP). Since its inception in 1986 up to 31 December 2019, the commission has recovered the total amount of One Hundred Seventy – Three Billion Nine Hundred Ten Million Three Hundred Thousand and Nine Hundred Thirty- Eight Pesos and 37/100 (PhP 173,910,300,938.37).
2020: From January 01 to December 31, 2020, the PCGG has recorded a total of P333,712,340.06 cash recoveries and other income.
The Commission has remitted to the Bureau of the Treasury (BTr) P193,645,672.60 cash receipts for CARP; P78.51 Million from Mid-Pasig Land Dev’t. Corp. as share from its FY 2020 income; and P38.7 Million from SMC cash dividends, in escrow. In addition, P76.45 Million ETPI deposits in escrow with the Sandigabayan.
From its creation in 1986 up to 31 December 2020, the PCGG has recovered the total amount of One Hundred Seventy-Four Billion, Two Hundred Thirty Million, Six Hundred Forty-Nine Thousand, Seven Hundred Sixty-Seven Pesos and 76/100 (P174,230,649,767.76,) comprising the total collections and remittances to the BTr-National Government Funds and Escrow Funds.
ESSENTIAL CASES
REPUBLIC VS. IMELDA R. MARCOS (Civil Case 0141)
Dubious Swiss Deposits of 5 Marcos’ Foundations
On 15 July 2003 the Supreme Court ordered the forfeiture in favor of the RP of the Swiss deposits in escrow at the Philippine National Bank (estimated at US$658,175,373.60 as of 31 January 2002). Supreme Court established that the only known lawful income of then President F. Marcos and Imelda Marcos from 1965 to 1986 was US$304,372.43.
Arelma Funds
As to the anomalous funds involving Arelma Inc, the Estate/Heirs of former President Ferdinand E. Marcos and Imelda R. Marcos were ordered to render an accounting of all assets, investments, securities, properties, shares, interests, and funds of Arelma, and to physically turnover the same to the Republic of the Philippines. F Marcos, Jr. replied that he is not in a position to comply with the said order.
Maria Lourdes Sereno
Former Chief Justice of the Philippines
In November 2018, Sandiganbayan found them guilty on seven graft charges. A good number of cases are still pending. Lolo Ferdi and the Marcoses are really guilty of plunder. The wealth that they plundered remains to be recovered as legal maneuvers and bureaucratic spoils together with the reinstatement in power of some of its former cronies and present allies, like Duterte, hampers the process.
And recently on September 24, 2021, the Sandiganbayan Second Division ordered the Royal Traders Holding Co. Inc to pay the Philippine government P96.03 million and $5.4 million, plus "interest thereon of 12% per annum reckoned from February 1993, until all the amounts are fully paid." The award is in the range of P1 billion to P1.65 billion.
