‘Probe into Imee’s trust funds over in two weeks’

MANILA, Philippines - The investigation into the alleged secret offshore trust funds of Ilocos Norte Gov. Imee Marcos is expected to be finished in two weeks.

Chairman Andres Bautista of the Presidential Commission on Good Government (PCGG) told reporters yesterday he had instructed the team of commissioners Maita Chan-Gonzaga and Vicente Gengos Jr. to gather additional information and submit their preliminary findings in two weeks.

“We’re looking at involving other government agencies like the AMLC (Anti-Money Laundering Council),” he said.

Bautista said they learned about the trust fund a few weeks ago after meeting with members of the Philippine Center for Investigative Journalism (PCIJ).

“They visited us here in our office and presented to us the documents,” he said.

A report published by the International Consortium of Investigative Journalists, which includes PCIJ, shows Marcos as one of the beneficiaries of Sintra Trust formed in June 2002 in the British Virgin Islands.

Marcos, the eldest child of the late dictator Ferdinand Marcos, did not declare the Sintra Trust and two other offshore accounts in her latest statement of assets, liabilities and net worth (SALN), the report said.

Based on the report, other beneficiaries of the trust funds are Marcos’ adult sons with estranged husband Tomas Manotoc: Ferdinand Richard Michael, Matthew Joseph, and Fernando Martin.

The ICIJ said “scores of documents” showed that the 57 year-old Marcos was also a financial advisor to Sintra Trust.

As a financial advisor, Marcos had the power to make investment decisions on trust assets held by banks and other financial institutions, the ICIJ report added.

Marcos is seeking reelection unopposed in next month’s midterm polls.

The PCGG has recovered $4 billion in Marcos ill-gotten wealth, including Swiss bank accounts and US properties.

The second part of the ICIJ report also named Sen. Manuel Villar and San Juan Rep. JV Ejercito as owners of companies in the British Virgin Islands.

Members of Akbayan picketed the PCGG office on EDSA, Mandaluyong yesterday to urge a probe into the alleged secret accounts of Marcos.

Akbayan spokesman Barry Gutierrez said the PCGG should investigate whether the secret offshore accounts of Marcos are part of the remaining Marcos loot.

“All government agencies related to this issue must also be ready to act as the offshore accounts could have violated numerous anti-graft laws,” he said.