COA asks BOT to help recover forfeited Marcos assets

MANILA, Philippines - The Commission on Audit (COA) is calling on the Bureau of Treasury (BTr) to help facilitate the government’s recovery of more than P5.442 billion in forfeited Marcos assets.

In a report, COA said the BTr should continuously coordinate with the Presidential Commission on Good Government regarding the status of the Writ of Execution on the remaining forfeited Swiss deposits of the Marcoses.

State auditors said the BTr had informed them that it was not its job to enforce the writ.

BTr officials said they had already verbally coordinated with the legal counsel of the Philippine National Bank and with representatives of the PCGG on the status of the escrowed deposits and of cases involving deposits in Singapore and assets pertaining to Arelma Foundation.

“BTr also commented that the representatives of the PCGG informed that all documentation are being processed by the Office of the PCGG chairman, for which they have no access,” the COA report said.

“Thus, the requested action and documentation covering the subject issues are within the control of the PCGG, and the BTr has no way of compelling that Office to submit documents,” BTr officials said.