PCGG fails to sell over ₱336-M worth of ill-gotten properties from Marcos cronies – COA report

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The PCGG, created under Executive Order 1 of 1986, is mandated to sequester all ill-gotten wealth accumulated by members and friends of the Marcos family.

Metro Manila (CNN Philippines, May 2) — The Presidential Commission on Good Government failed to sell alleged ill-gotten properties it recovered from the cronies of former President Ferdinand Marcos, the Commission on Audit reported.

The report issued April 27 said nine sequestered properties were up for bidding in 2017, which would have generated over ₱336 million in income for the government.

"The audit team noted that during the year there was no public bidding conducted to privatize the assets enumerated in the privatization plan. It was further noted that the management also failed to dispose properties from previous years," the report read.

The audit agency said the properties were not sold because PCGG failed to reappraise them. It added that the last time the PCGG sold any property was in 2014, where only three out of 11 were sold to private bidders.

The nine properties for disposal include:

26,812 hectares in Bacolod City surrendered by Antonio Martel and Simplicio Palanca through a compromise deal with the government

6.4 hectares in General Mariano Alvarez, Cavite surrendered by Jose Y. Campos

5,952 square meters in Naga City recovered from Banahaw Broadcasting Corporation of Roberto Benedicto

a 2,335 sqm. propertyin Francisco Evergreen Subdivision in Tagaytay City

a 1,000 sqm. lot in Puerto Galera, Oriental Mindoro recovered from Jolly Bugarin

a 300 sqm. lot in Calapan City, Oriental Mindoro from Bugarin

two 300 sqm. lots in Pangarap Village, Caloocan City from former Marcos aide Alejo Ganut Jr., and

a 480 sqm. lot in Kingswood Property, Emerald Court Subdivision, Caloocan City also surrendered by Ganut

However, despite the failure to sell, the PCGG was able to remit more than ₱377 million to the Bureau of the Treasury last year. Around ₱252 million of the amount came from the Marcos family's forfeited Swiss Bank accounts.

In its official Facebook page, the PCGG said the properties cannot be sold "as they need to be appraised properly first to address potential audit issues."

"Before the Duterte administration, sequestered properties were supposedly sold below their fair market values. We do not want that to happen again. We even asked COA to assist us in appraising the properties subject of privatization," the commission said.

The PCGG, created under Executive Order 1 of 1986, is mandated to sequester all ill-gotten wealth accumulated by members of the Marcos family.