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PCGG to give preliminary findings on Imee Marcos offshore trust in 2 weeks

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Ilocos Norte Rep. Imee Marcos. INQUIRER FILE PHOTO

MANILA, Philippines—The Presidential Commission on Good Government will give its preliminary findings on the alleged offshore trust of Ilocos Norte Representative Imee Marcos and her three sons in the British Virgin Islands in two weeks’ time.

Depending on the findings, the PCGG will assess whether to pursue the discovery in line with its mandate to recover the ill-gotten wealth of the late dictator Ferdinand Marcos, his family and cronies.

PCGG Commissioners Ma. Ngina Teresa Chan-Gonzaga and Vicente Gengos Jr. will head the team that will look into the lead uncovered by the Philippine Center for Investigative Journalism as part of a 15-month global media investigation into thousands of secret offshore companies or trusts and their beneficiaries.

Weeks before the PCIJ news report came out, the PCGG was given copies of documents showing Imee Marcos and her sons to be beneficiaries of Sintra Trust that was formed in June 2002 in the BVI.

The PCIJ linked Imee Marcos to Sintra Trust and two other offshore companies, all of which were not listed in the statement of assets, liabilities and net worth she filed as a congressman and governor.

“They (PCGG investigators) were given two weeks to get additional information and to submit preliminary findings,” PCGG Chairperson Andres Bautista said in an interview Monday.

“We’re looking at involving other government agencies,” added the former law dean of the Far East University (FEU), mentioning the Anti-Money Laundering Council.

Nearly three decades since the agency was created to hunt wealth Marcos illegally amassed during his 20-year regime, the PCGG continues to pursue leads such as that provided in the PCIJ report, of suspected hidden Marcos assets abroad.


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  • EdgarEdgar

    When it comes to ill-gotten wealth, what can the Marcoses learn from the Aquino-Cojuangco clan?

    The Marcoses have been hounded by the US and PH government for its alleged ill-gotten wealth since 1986. To keep their stash in the family, the Marcoses can learn a thing or two from Hacienda Luisita. More than half a century ago, the Cojuangco owners of Hacienda Luisita became wealthy by enslaving generations of feudal farmers and depriving the peasant farmers of land rightfully theirs. To retain and legitimize their wealth, the Cojuangcos devised a way to delay land reform for many many decades. After the long delay, the social stigma of ill-gotten wealth wore off. Today, most Filipinos believe that Noynoy and his clan worked very hard to become rich and famous. Some even believe that Noynoy at one time sold Nike shoes door to door to earn his keep. Still, others claim to have seen Noynoy selling Ang-Tibay canvas shoes along Avenida and Azcarraga to make ends meet. Only a few people realize how many feudal peasant farmers, who are the true children of the land, had to suffer in order to sustain the luxurious lifestyle of Noynoy and the Cojuangco clan. If the Marcoses can successfully hold on to their stash for a few more generations down the line, there is a good chance that people will forget about the Marcos dictatorship and the Marcos wealth will one day be legitimized. In a way, it’s like money laundering through the natural cleansing process of time. If Noynoy and his Aquino-Cojuangco clan got away with it, nothing is stopping the Marcoses. That’s probably what the old adage meant by time heals everything.

    • nakawan

      It’s understood that they were hacienderos, and probably before martial law happened, these people were enriching themselves the traditional way that Binay, Marcos, GMA and Erap continue to do it. I don’t think there’s any question that the Aquinos and Cojuangcos of Tarlac were trapos too.

    • Jazzeroo

      It is never acceptable for anyone let alone the Marcos family or the Aquinos or for anybody less famous to obtain and acquire wealth through illegal and immoral means just because in time it will be forgotten. This is an absurd and highly misinformed notion.
      There are laws and natural justice all civilized peoples adhere to and that includes the Philippines and just because time heals everything does not make any criminality or wrong committed more acceptable. They get away with it here in this country because we let them.
      It would seem that this notion and its ill is exactly what this country suffers from.
      Collective amnesia!! Forgiveness and justice are not one and the same.

    • regd

      Hehehe si PNoy pa rin ang may sala. Magneto talaga ang pangulo sa iyo tol, implanted na yata yung galit mo sa pinakadulo ng sukdulan ng butsi mo hehehe.

      • ernievictory

        kasi noong umupo si PNoy natanggal sa pwesto si egay dahil korap sya kaya ganoon na lang ang galit nya sa presidente !

    • A. H. Forrester

      Complacency ! Has no place in this matter. The Filipino people suffered a lot and were robbed blind by corrupt rulers who’s sins ruined the incubation of a better society than the broken one seen today. Of course…..run after the loot. Expose those hiding the wealth and tear them down from their false pedestal’s as required.

    • $42337655

      and the Marcoses are hoping this will happen, right ?
      all thieves hope this happens so their bad deeds will be forgotten and that they will get away with it.
      in the Phils., they know this is easy to happen as people easily forget.
      where else do you see great plunderers get voted in positions of power, again and again. There is something wrong with our voting masses.

      • EdgarEdgar

        Emilio did a lot of bad things but he’s still minted in our coins. Ninoy and his clan did a lot of evil things to peasant farmers and he’s still minted in our peso bills. Call it flawed democracy or history repeating itself, or sometimes even worst. Corruption in the customs bureau under Noynoy is even worse according to IMF. It’s all business as usual for them.

      • koolkid_inthehouse

        Marcos stole right in front of our eyes.

  • dikoy321

    Loko din itong si EdgarEdgar…topic is Imee Manotoc Marcos, nilipat nya to P-Noy !
    Let’s FOCUS on the Marcos’ STOLEN & HIDDEN Wealth this time !
    Ignore EdgarEdgar, coz he’s after DIVERSION !
    hehe

    • JK1000

      Si EdgarEdgar ay isang pakawala nina Marcos

  • ernievictory

    wala pa atang statements sina imee at bong2 sa issue ng offshore account ? halatang guilty ang mga magnanakaw !!

  • JK1000

    Dapat ikulong ang mga walang kaluluwang mga marcosses. Pati na rin sina Enrile,Estrada ,GMA na mga nagpayaman sa kaba ng bayan.

  • Hey_Dudes

    Ano sa palagay ninyo meron pa kayang santol,kamias, sampalok o kilikili pawis itong si madam?

  • M C

    The “modern” world that we know it now was created because of capitalism which is basically anchored on greed. Moralists and pencil pushers will surely rant “justice” and “truth” but the ways of the world is farthest from what textbooks say. Maybe, we can all discuss about “justice” when all Filipinos have work, there is food on the table and Mang Pandoy has a job. Assuming for the sake of argument that there are assets stashed in some foreign banks, it is all waste of time and energy trying to bring those assets to Philippine shores. What has to be done is some arrangements where these funds can be accessed and trading profits earned therefrom to feed, educate and clothe every Filipino now. We might be wasting a century trying to break the confidentiality of trust accounts but we have to have food for the next meal. Why can’t just PCGG enter into some financial understanding with the beneficial owners so that these assets held in trust are put into some financial exercise like High Yield Trading Programs under some joint venture arrangements so that while we are resolving questions of “ownership”, there are already trading profits being earned which are directly funding scholarships, rice self sufficiency programs, healthcare and infrastructure? But first and foremost, Senyor Simyon has to execute an EO so that “recovered” funds can be channelled to such objectives directly under an Oversight Committee composed of “asset holders” and PCGG instead of just limiting “recovered” funds for “land reform” which is just a euphemism for paying P10B to Hacienda Luisita.

  • koolkid_inthehouse

    If not for WIKILEAKS, PCGG is a blind or pretending blind in one eye. They should check on the Arroyo’s, the Ejercito Estrada and maybe Enrile and Binay too.



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