Thread by @rapplerdotcom

Rappler Talk: Ex-PCGG commissioner Ruben Carranza on Ferdinand Jr. and the Marcos ill-gotten wealth twitter.com/i/broadcasts/1…

The recovery of the wealth illegally amassed by the dictator Ferdinand Marcos, his family, and cronies has been an uphill battle since the dictatorship was toppled in 1986.

#RapplerTalk:

The Presidential Commission on Good Government (PCGG), tasked to recover the ill-gotten wealth amassed by the dictator’s family, has recovered P174.2 billion in Marcos ill-gotten wealth by end of 2020. It is running after P125.9 billion more as of 2021.

But the presidential campaign of the dictator’s son spells a huge problem to the recovery efforts by the government, especially how he has continuously refused to acknowledge the corruption and abuse under his father’s rule.

#RapplerTalk:

Rappler editor-at-large @maritesdvitug speaks to international lawyer Ruben Carranza on Marcos Jr.’s role in the protection of his family’s ill-gotten wealth, as well as, the future of running after the Marcos loot if he wins the presidency.

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@maritesdvitug Can we still expect a functioning PCGG under another Marcos presidency?

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@maritesdvitug On the Marcoses claiming they own 60% of the Lucio Tan companies:

International lawyer Ruben Carranza: The Lucio Tan case is still pending in the Supreme Court and was filed as an ill-gotten wealth recovery case.

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@maritesdvitug Carranza: PCGG's theory is that Lucio Tan and the Marcoses were both involved in keeping and acquiring and hiding ill-gotten wealth. They are seeking recovery of these assets.

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@maritesdvitug Carranza: That's not a correct theory that the gov't has to prove that these are from gov't funds, that's not the only way ill-gotten wealth can be acquired.

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@maritesdvitug Carranza: Estelito Mendoza is wrong, he thinks he can show that Lucio Tan's assets were not directly taken from gov't funds, but that's not the case here.

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@maritesdvitug Carranza: Marcos Jr and if and when he wins, he will go after these cronies, what the Marcos family claims are their shares in corporations and properties, known and hidden.

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@maritesdvitug Carranza: This is not the first time in the Lucio Tan case that they have done this. They've done this to PLDT, connected to the Cojuancgo family, to the San Miguel shares. They're going to do this to Lucio Tan and other cronies still keeping a lot of wealth.

@maritesdvitug Carranza: This family [Marcoses] has been salivating at the thought of finally getting their hands on what they claim are their 'rightful shares' in ill-gotten wealth held for them by different cronies.

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@maritesdvitug Carranza: All contracts entered by Lucio Tan and Marcos family were in blank. His children could just write their names or their dummies and claim they are now the owners of these shares. Marcos Jr claims 60% of Lucio Tan's assets.

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@maritesdvitug On how the Marcoses owned at least 51% of Security Bank:

Carranza: Rolando Gapud has never gone back to the PH since 1986. He fled, he executed two sworn statements on why he has not returned. He was afraid for his life.

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@maritesdvitug Carranza: Gapud claims that he made a list of assets that the Marcoses would claim to be theirs but held for them by different cronies, at least 230 corporations.

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