BAYAN MUNA: PRES. DUTERTE IS WRONG ON MARCOS ILL GOTTEN WEALTH

BAYAN MUNA: PRES. DUTERTE IS WRONG ON MARCOS ILL GOTTEN WEALTH

Bayan Muna chairman and Makabayan senatorial bet Neri Colmenares along with Bayan Muna Rep. Carlos Isagani Zarate today said that Pres. Duterte is wrong in saying that there is no proofing linking the Marcoses to ill gotten wealth.

Colmenares, Marcos human rights victims himself said that Pres. Duterte is mistaken because of the following numerous resasons;

1.) In 1997, Swiss Federal Supreme Court issued a decision returning the more than $680 Marcos Swiss deposits to the Philippines pending compliance to two conditions — a final and executory decision of a credible Philippine court declaring the said funds as ill-gotten, and a rightful share of the funds to be given to the 7,526 martial law victims who won a class suit in Honolulu court against the Marcos estate in 2011.

In 2003, the Philippine Supreme Court ruled in favor of the Republic of the Philippines which forfeited US$658 Million (as of Jan. 2002) Swiss deposit accounts. In 2004, PCGG remitted P35 Billion (P10 Billion for the compensation of 10,000 human rights victims). In 2014, PCGG recovered the last tranche of Marcos Swiss accounts worth US$23 Million (US$29 Million or P1.3 Billion, including interest), after the Singapore Supreme Court ruled that the Philippine National Bank (PNB) had the legal title to the deposits;

2.) The Philippine Supreme Court ruled that anything in excess of the Marcoses’ total legal income of $304,372.43 from 1965 to 1986 were presumed ill-gotten;

3.) The Marcos compensation law that I authored gave an equivalent of 10 billion pesos from their Swiss ill gotten wealth to the more than 10,000 Marcos human rights victims;

4.)Gloria Macapagal-Arroyo also supposedly spent nearly P20 billion of the ill gotten wealth for agrarian reform;

5.) Furthermore, the Hawaii court just wrote me yesterday about $31 million worth of painting from the Imelda collection to be distrbuted to their human rights victims.

So the facts are clear and Pres.Duterte is wrong,” Colmenares said.

Rep. Zarate meanwhile said that the “Marcos regime was not only infamous for its human rights violations but it is also known for its widespread and systemic corruption and plunder of the national coffers. It is estimated that as much as 33 percent of the country’s total borrowings during his term were pocketed by Marcos and his cronies. The Presidential Commission on Good Government (PCGG) places Marcos’ ill-gotten wealth at between $5 billion to $10 billion,”

“Former Solicitor General Frank Chavez pegs at $13.4 billion the money deposited by Marcos and his family in various Swiss banks. The Marcoses still face numerous cases in court in relation to this amassed loot. So,the links of the Marcoses to ill gotten wealth are indeed strong,” ended Rep.Zarate.###

Be the first to comment

Leave a Reply

Your email address will not be published.


*