Atty. Oliver Lozano, lawyer of former President Ferdinand Marcos proposes a compromise agreement on a part of the wealth sequestered by the government. These are “not judicially decided as ill-gotten.” A cut of the amount in exchange to drop all cases against the Marcoses. Chief Presidential Legal Counsel Salvador Panelo confirms that he has a copy of the proposal.
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PCGG’s Jurisdiction over Marcos’ Wealth
Under Executive Order No. 1, the PCGG has to “recover all alleged ill-gotten wealth from the late President Marcos, his immediate family, relatives, subordinates, and cronies. This is why Lozano’s proposal is forwarded to the PCGG, he said.
Similar to President Du30’s Advice
Lozano includes a draft House bill in his proposal to grant immunity to the Marcos family. A draft compromise agreement between the Marcos family and the government goes with it. This is similar to President Du30’s advice to the Marcos family on the wealth of humanity that the former President Marcos deposits at the World Bank using gold certificates. However, Bongbong Marcos said that they are not liable for any wrongdoing because they are not stolen. The government can have them if they can find them, he added. The family cannot solely access them because they are for the welfare of humanity. The Senate should start the proceeding.
Many media influencers speculate that former President Marcos starts to amass ill-gotten wealth from the government from 1965. An alleged study reveals that Marcos got an around $5-billion to $10-billion in his 21-year regime as President. However, not a single case can stand in court against him. Besides, the government cannot have that much money.
The Ultimate Power Grabber
Former President Corazon Aquino establishes the PCGG through Executive Order No. 1. This is to run after Marcos’ wealth. Marcos won the snap elections in 1986 but Aquino became President after the black media propaganda turns a mutiny into the so-called People Power Revolt in 1986. That ends up to be a hoax. The agency recovers over ₱170 billion. The Senate calls for its audit since many high-valued paintings and pieces of jewelry went missing.