Imelda getting 'cold feet' in Marcos wealth case - PCGG counsel

Posted at 04/08/2009 12:02 AM | Updated as of 04/08/2009 12:03 AM

After being featured in Newsweek magazine's list of "greediest people of all time," former First Lady Imelda Marcos has reportedly become hesitant to testify in government cases against alleged Marcos cronies still holding ill-gotten wealth from the Martial Law period, a source said Tuesday.

Catalino Generillo, special counsel for the Presidential Commission on Good Government (PCGG), said Imelda has been more "reclusive" since the Newsweek feature appeared.

"The timing of that article was not very good. I detect some degree of reluctance on her part after she was named by an international magazine as one the world's all-time greediest people," he said.

He said that he has been asking Mrs. Marcos to testify in a civil case pending before the Sandiganbayan Fifth Division to prove government ownership over several assets of business tycoon Lucio Tan where the Marcoses reportedly hold substantial shares.

Ilocos Norte Rep. Ferdinand "Bongbong" Marcos, Jr. had reportedly already testified before the graft court, saying that he was told by his father, the late dictator Ferdinand Marcos, that their family has shares in Tan's companies. Mrs. Marcos only reportedly needs to corroborate this fact, but has yet to appear in court.

Generillo also said that disclosure and documents by the family in ongoing probate proceedings at the Pasig Regional Trial Court will help government prosecutors determine the real value of Marcos assets hidden by Marcos cronies. These reportedly include bank deposits, stock shares, and real-estate records.

“Probate proceedings could prove highly important to government efforts to recover the Marcos ill-gotten wealth. The Marcos heirs have to declare all their assets in order that the total value of the estate will be established,” he said.

Earlier, the Supreme Court declared that the Marcos family's legal assets should only amount to $304,372.43, which prompted the Sandiganbayan to rule that the $35 million Arelma deposits should also belong to the government.


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