Marcoses to return portion of wealth to support infrastructure binge

Elias Hubbard
August 30, 2017

The justice chief made the statement after President Rodrigo Duterte said Tuesday that the Marcos family was willing to return gold bars and a part of their alleged hidden wealth, citing an emissary who said the riches were taken only to secure the Philippine economy at the time. "But we are ready to open and bring back", sabi niya, 'pati 'yung a few gold bars.' Hindi ganoon kalaki, it's not the Fort Knox, it's just a few, but sabi nila isauli nila", he said.

Albay Rep. Edcel Lagman, an opposition lawmaker from the Liberal Party, said that a confirmatory statement must come from the Marcos family.

"The Marcoses, I will not name the spokesman, they said they will open everything and probably return what was found", Duterte said.

As of 2016, the Presidential Commission on Good Government (PCGG) had recovered a total of P170 billion in ill-gotten wealth - from Swiss bank deposits, shares of stock and real estate to paintings and jewelry - from the Marcoses and their cronies. The PCGG was created by late-President Corazon C. Aquino through Executive Order 1, Series of 1986.

Duterte argued that it was Marcos's right as a president and soldier to be buried at the cemetery, taking a political risk in a country where democracy advocates still celebrate Marcos's ouster each year.

Aguirre said the President can appoint a regular chairperson and two more PCGG commissioners to complete the complement of five commissioners and then assign one commissioner to handle the corruption allegations on his appointees and the other one to negotiate with the Marcoses.

"It's not that big". Neither did he say if there had been an admission from the Marcos family that it had stolen from the country's coffers.

Fort Knox is a vault that stores USA gold reserves.

To this Duterte commented, "I will accept the explanation". With this, the family saw the need to return some of its ill-gotten wealth to assist the government in its infrastructure blitz.

Duterte has openly supported the Marcos family, cheering on the Marcos son, Ferdinand Jnr, in his failed bid for the vice-presidency previous year. "How much? They would give me an accounting", he added. He said what's done is done, and what's important is that the family is ready to return some of its ill-gotten wealth. They said that Marcos planned to return the money after returning to the seat of government.

Other reports by Click Lancashire

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