Marcos ill-gotten properties up for sale

MANILA, Philippines - The Presidential Commission on Good Government on Monday announced that the Department of Finance (DOF) has approved the proposed sale of properties worth P65.8 million which are part of the ill-gotten wealth of former President Ferdinand Marcos and his cronies.

The Privatization Council, under the DOF, approved the sale of seven properties through public bidding.

Three properties forfeited from former National Bureau of Investigation Director Jolly Bugarin are among those scheduled to be privatized.

This includes a 2,335-square meter land in Tagaytay City and parcels of land in Puerto Galera and Calapan, Oriental Mindoro. Bugarin, who served under the Marcos administration from 1967 to 1986, acquired the properties in excess of his government compensation.

The council also approved the sale properties owned by former Ambassador Roberto Benedicto, who served as the Philippine ambassador to Japan in the early 1970s. The properties include a 5,161-square meter land in Legazpi City and a 5,952-square meter land in Naga City.

The property of spouses Alejo and Teresa Ganut in Caloocan City will also be put on sale. Ganut was the aide and valet of Marcos.

The Wigwam Compound property in Baguio City, which has an area of 1,146 square meters, will also be up for sale. This is owned by Jose Campos, a known associate of the former president.

Public bidding for the properties will be held in March. The PCGG is eyeing to generate a total of P383 million for turnover to the Bureau of Treasury.

"We will continue to work even harder in carrying out one of our major tasks, which is to privatize surrendered and recovered ill-gotten assets of the Marcoses and his cronies with proceeds going to its true owners, the Filipino people," PCGG Chairman Richard Amurao said.

The PCGG is also looking to put the Marcos jewelry up for auction following the recent appraisal of the collection.

RELATED: Marcos, crony ordered to return ill-gotten wealth to gov't