Thousands flock to UPLB for ‘Marcos money’

MANILA, Philippines — Thousands of people, who said they were promised to receive cash from the supposed trust fund of the late strongman Ferdinand Marcos, gathered at the University of the Philippines (UP) campus in Los Baños, Laguna yesterday.

Around 30,000 people  from Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon), Mimaropa (Mindoro, Marinduque,Romblon, Palawan) and Metro Manila  came, according to a report of the Los Baños police.

Almost all the participants were carrying a booklet titled “Life and Achievements of Ferdinand E. Marcos.” The booklets were reportedly sold for P30 each in exchange for the supposed Marcos money.

A report in UPLB Perspective quoted the organizers of the event as promising those who bought the booklets of monthly payouts of P10,000 in the next four years. Another P500,000 will also be reportedly invested in a cooperative for the beneficiaries.

The UPLB office of the vice chancellor for community affairs had earlier issued a traffic advisory, saying various activities were scheduled in the campus yesterday, including the general assembly of the One Social Family Credit Cooperative. The advisory said the event was approved by the Department of Human Kinetics of the College of Arts and Sciences.

UP vice president for public affairs Jose Dalisay said they were surprised by the number of people who attended the event.

“According to UPLB Chancellor Fernando Sanchez, eve-rything is under control...The crowd is dispersing,” Dalisay said in a text message to The STAR at around 4 p.m. yesterday.

‘Pure scam’

In a statement, former senator Ferdinand “Bongbong” Marcos Jr. denied their family has anything to do with the gathering.

“It’s a scam, pure and simple. I have repeatedly warned the public against unscrupulous individuals who have been using our family to advance their personal interests. Today’s event is a classic example of that,” Marcos said.

A speaker at the gathering reportedly read a letter of gratitude from Marcos and identified their organization as the former Bullion Buyers Ltd.

In 2013, the National Bureau of Investigation filed estafa charges against two people who introduced themselves as caretakers of the Marcos assets and enticed the victims to invest in Bullion Buyers Ltd.

In an advisory in March, the Securities and Exchange Commission warned the public against investing in Bullion Buyers. – With Emmanuel Tupas