PCGG goes after firm tied to Tan | Inquirer News

PCGG goes after firm tied to Tan

/ 06:27 AM June 08, 2011

The Presidential Commission on Good Government (PCGG) has asked the Sandiganbayan to allow it to include the Philip Morris Fortune Tobacco Corp. (PMFTC) and its officials as defendants in the ongoing forfeiture case against tycoon Lucio Tan.

Tan’s Fortune Tobacco Co. (FTC), which is part of the forfeiture case, earlier merged with Philip Morris to form PMFTC.

ADVERTISEMENT

The PCGG, represented by the Office of the Solicitor General, said the transfer of Fortune Tobacco’s assets to Philip Morris to form the new corporation was aimed at skirting the forfeiture case.

“Such transfer was attended with fraud and constitutes an attempt to effectively remove defendant FTC’s and NTRC’s [Northern Tobacco Redrying Co. Inc.] assets and place them beyond the plaintiff’s and the honorable court’s reach,” it said.

FEATURED STORIES

The PMFTC officials the PCGG also sought to implead are Lucio Tan Jr., Michael Tan, Christopher Nelson, Douglas Werth, Mitchell Gault, Raymond Miranda, Varinia Elero, Vincent Nguyen, Domingo Chua, Juanita Tan Lee, Peter Ong, Shirley Santillan, Myra Vida Jamora and Henry Sitosta.

The PCGG filed the forfeiture case against Tan in 1987, charging that his companies were part of the ill-gotten wealth of Marcos and his family.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: forfeiture case, Lucio Tan, PCGG, Philip Morris Fortune Tobacco Corp., Sandiganbayan
For feedback, complaints, or inquiries, contact us.

News that matters

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.