Heirs of Marcos cronies lose wealth case

The Sandiganbayan has finally ruled in favor of the government in a civil forfeiture case involving the late dictator Ferdinand Marcos’ ill-gotten wealth.

6.12.2019

The Sandiganbayan has finally ruled in favor of the government in a civil forfeiture case involving the late dictator Ferdinand Marcos’ ill-gotten wealth. | PDMChiuINQ

The Sandiganbayan has finally ruled in favor of the government in a civil forfeiture case involving the late dictator Ferdinand Marcos’ ill-gotten wealth.

The Sandiganbayan ordered the heirs of Jose Africa and Manuel Nieto Jr. to return their shares of Eastern Telecom, as well as Polygon Investors and Managers and Aerocom Investors and Managers to the government, “including all the stock, cash dividends received and deposited and interests that may have accrued and may still accrue thereto.”

The court, however, dismissed the cases against defendants Marcos, his wife, Imelda, and former Senate president and Marcos’ defense minister Juan Ponce Enrile for failure of the government to establish “preponderance of evidence against them.”

The Sandiganbayan said the exemplary damages should serve as a deterrent to “deleterious actions.”

The monetary awards , the court said, are subject to a 6 percent interest annually, from the date of the decision until they are fully paid.

Read more: Inquirer

Marcos cronies Nieto, Africa told to return ill-gotten wealth to gov't

'Never again': Court forfeits P2.7-B Marcos wealth plus damages in telcom scamBREAKING NEWS. The Sandiganbayan limits its forfeitures to telecom company shares illegally acquired, and dismisses government claims against other assets of Juan Ponce Enrile and the Marcoses.

Gov’t wins civil suit vs Marcos croniesThe Philippine government scored a victory before the Sandiganbayan Third Division as the cronies of the late President Ferdinand Marcos and his wife, Imelda, were ordered to return all their shares in the Eastern Telecommunications Philippines, Inc. (ETPI) and pay back the government over P69 million, which represents the value of the ETPI shares conveyed to ISM Communications, on July, 2005 as well as exemplary damages. Why would any of the Marcos be allowed back in the Philippines Who are these cronies? Pag abswelto ang case naka pangalan sa news. Pag gov’t/Filipino peeps ang nanalo walang pangalan. 😑

Marcos cronies Nieto, Africa told to return ill-gotten wealth to gov't

Gov’t wins civil suit vs Marcos croniesThe Philippine government scored a victory before the Sandiganbayan Third Division as the cronies of the late President Ferdinand Marcos and his wife, Imelda, were ordered to return all their shares in the Eastern Telecommunications Philippines, Inc. (ETPI) and pay back the government over P69 million, which represents the value of the ETPI shares conveyed to ISM Communications, on July, 2005 as well as exemplary damages. Why would any of the Marcos be allowed back in the Philippines Who are these cronies? Pag abswelto ang case naka pangalan sa news. Pag gov’t/Filipino peeps ang nanalo walang pangalan. 😑

'Never again': Court forfeits P2.7-B Marcos wealth plus damages in telcom scamBREAKING NEWS. The Sandiganbayan limits its forfeitures to telecom company shares illegally acquired, and dismisses government claims against other assets of Juan Ponce Enrile and the Marcoses.

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