Monday, August 20, 2007

Recovering Marcoses' ill-gotten wealth useless

Congressman Ferdinand "Bongbong" Marcos Jr. is doing all he could to recover at least 60% of his late father's shares in groups of businesses run by tycoon Lucion Tan, believed to be a protege' of the late dictator when he was still an ordinary tobacco salesman in Ilocos province. That's when the two met and got acquainted to each other.

Now Lucio Tan owns many big businesses that include the Philippine Airlines, Fortune Tobacco Corporation, Allied Bank, Philippine National Bank, among others. And many wouldn't agree that these businesses are his alone. While others believed, most of them are owned by the Marcoses with Tan as dummy. From a mere tobacco salesman, Tan rose to become one of the hotshot government revenue examiners, a feat that some people said could be the handiwork of the late dictator.

Probably, it's a long range plan that only a select few knew exactly the truth behind it. A dead man tells no tales. But there must be something that the young Marcos has in his possession to prove his claims on the questionable shares of stocks. How much of them are worth now, nobody knows for sure, considering the number of years that the Presidential Commission on Good Government (PCGG) has been running after to recover the said ill-gotten wealth to no avail.

Perhaps, Tan's admission will shed light on the questionable shares at the expense of pinning him down to the ground, and it could be a deciding factor on these criminal cases against the Marcoses. But Tan is no fool to put his head inside a crocodile's mouth. Many do not believe that he would give in to pressures. After all, he has a lot of connections, not to mention the bunch of top caliber lawyers at his disposal to protect his buseiness interests.

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