Where are the recovered Marcos wealth? Here’s what you need to know - The Daily Sentry

Saturday, June 9, 2018

Where are the recovered Marcos wealth? Here’s what you need to know

It has been reported that the Marcoses pledged on giving back portions of their wealth back to the Philippine treasury. Comes after such announcement, the Filipino citizenry was hyped by the possibilities this financial turn-over would cause or impact. Claiming that the considerable amount will be of good source to further the advocacies and programs of the government, some people expressed their support and ardency to the bruited deal.

While the transaction between the Marcoses and the government could undeniably be in one way or another beneficial to the Republic of the Philippines, some notable critics claimed that it should not be the major focus of the people. There are some underlying issues and controversies that are yet to be resolved before such turn over of wealth can be actualized.

One of those who expressed his two-cents on the issue was former Presidential Assistant for Economic Affairs and journalist Jose Alejandrino. His article, which was recently shared by another distinguished critic-Abe Purugganan, contains certain premises significant to the Marcos’ financial turn-over issue. In the said post, Alejandrino pointed out that aside from the Marcoses, the Aquino family also had accessed and retrieved portions of the disputed wealth through the Presidential Commission on Good Government (PCGG).

Jose Alejandrino’s post reads:


According to the PCGG, it recovered nearly 170.5-billion pesos, or the equivalent of 3.6-billion US dollars, from 1986 to Dec. 2015. It claims to have remitted 14-billion pesos or nearly 300-million dollars to the National Treasury. Still left to recover, PCGG said, are 32-billion pesos or 673-million dollars in 19 civil cases pending before the Sandiganbayan as of Dec. 2015.

May the people know why only 14-billion pesos out of the 170.5-billion PCGG claims it recovered were remitted as of end 2015? How much more, if any, were remitted to the Treasury after 2015? If none, why?

My second question is of the Imelda jewellery collection that was recovered, were the jewellery worn by Cory's daughters, as shown by some photos, that allegedly belonged to Imelda also recovered?

 If those jewellery were taken from Imelda don't they belong to the Filipino people? Can the people be given an inventory of Imelda's jewels sequestered by PCGG?

President Duterte announced that an emissary from Bongbong Marcos offered to return some gold bars to the government. Imee has been quoted, if quoted correctly, that the family would have to discuss the matter. Imelda is holding gold certificates which she proudly shows to invited guests. Are these the certificates to the 7,000-tons of gold Americans claim are being held by dummy companies abroad? I know Marcos discovered at three sites part of the Yamashita gold treasure which he showed to the Americans that filled one big room. The CIA has the pictures. It is normal the Marcoses keep part of the treasure. Finders, keepers.

Now if the Marcoses offer to return, say one-half of that gold treasure, it would certainly be a nice gesture which I'm sure Filipinos would appreciate. But the Golden Buddha which that poor man in Baguio found should also be returned to him.

Doy Laurel who was called to Marcos' dying bed in Honolulu had said Fred was willing to return part of his wealth to the Filipino people provided Cory allowed him to die in the Philippines. When Doy returned, he asked for an appointment to see Cory to transmit the offer of a dying man, but Cory was not interested. I myself believe Fred was sincere. After all, he could not bring his gold with him to the next world. So long as his family kept part of the Yamashita treasure and he was allowed to die in his country, Fred was satisfied. Cory was wrong not to be interested in the proposition. What she did was not in the national interest.

Now if the Marcos children are willing to pursue their father's offer, I think President Duterte should accept it. How much are 3,000 or so tons of gold worth on the world market today? I'm sure much more than what Fred was accused of stealing.”

Meanwhile, commenting on the issue with reference to Alejandrino’s write-up was Abe Purugganan. Written as a short caption before quoting Alejandrino’s article, Purugganan posed two significant questions.

“Where are the recovered Marcos wealth? Back to the national treasury or to the bank accounts of the Aquino family, their relatives, the liberal party, and their allies and elite? PCGG is the agency that was created by Cory to transfer the Marcos wealth to the pockets of the yellows.” Abe Purugganan speculated.



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Source: Jose Alejandrino, Abe Purugganan | Facebook