The Philippines is to wind down a near-30-year hunt for the embezzled wealth of late dictator Ferdinand Marcos, with more than half the supposed $10 billion fortune still missing, the man in charge of the search said.
Claiming that state prosecutors have failed to prove that his assets are ill-gotten after more than two decades of trying, ethnic Chinese businessman Lucio Tan has filed a P300 million counter-claim for damages from government.
The Presidential Commission on Good Government (PCGG) recovered almost P3 for every peso it spent for its operations in 2011, turning over to the national treasury P268.5 million in recovered ill-gotten wealth of late strongman Ferdinand Marcos and his alleged cronies.
“This is an inside job,” said Bayan Muna party-list Representative Teodoro Casiño. Casiño and Bayan Muna party-list colleague Neri Javier Colmenares expressed fear that a Commission on Human Rights (CHR) investigation into the reported cases of fake claimants to the compensation fund for human rights victims of the Marcos regime “may be tainted considering that [...]
