PCGG has recovered P85 billion in ill-gotten wealth since 1986

The Presidential Commission on Good Government has recovered a total of P85 billion in ill-gotten wealth since it was created in 1986, a PCGG report showed.

This amount, however, is way below the $5 billion to $10 billion plundered by the Marcoses and their cronies from the country’s coffers during the late dictator Ferdinand Marcos’ 20-year rule.

The PCGG’s "Budget Briefing Folio for Fiscal Year 2003" showed that from January to October 2002, the commission has collected some P80.6 million, representing cash dividends from shares of stock and rentals from sequestered assets, among other sources.

The records also showed that the P85 billion consisted of P26.5 billion in cash recoveries; P34.6 billion in cash recoveries in escrowed accounts; P230.6 million worth of surrendered agricultural land and P23.6 million in assets.

In an earlier interview, PCGG Commissioner Ruben Carranza said it was not easy for the PCGG to reclaim the ill-gotten wealth of the Marcoses and their allies because they had 20 years to cover their tracks.

He added that the Marcoses and their cronies also hired big-time lawyers to defend themselves while the PCGG is faced with a lack of lawyers to help them in the litigation.

Currently, the PCGG needs at least 50 lawyers but has only 35 part-time legal eagles.

Carranza admitted that the PCGG is not an attractive place for lawyers to work in because of the meager salary given by the agency.