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    Saturday, September 2, 2017

    READ: Will the Marcoses keep their promise to return portions of their money back to the gov’t?

    On Thursday, Mike Acebedo Lopez, a political communications professional, TV host, former senior government official and a columnist as well, recently commented on his facebook account about the controversy concerning the affirmation from the Marcos party that they ought to give a considerable portion of their wealth back to the Philippine government’s treasury.

    According to Mike Acebedo Lopez, such news (if proven true) does not unfold in an instant. Rather, the columnist asserted that a long and arduous process is yet to be done before such fund turn-over is actualized. In the said post, Lopez established the premise as to why it would take a long period of time before the financial deal between the Marcoses and the government is accomplished. He claimed that the Marcoses, on the first hand, does not have any access to the said funds which was long frozen by the US Courts.

    “What's to return? Whatever is there is frozen. The Marcoses have never had access to the accounts.
    And the worldwide freeze order is neither from the Philippine Government nor from the Marcoses. As far as I know, it was issued by the US Courts following the revolution.” Lopez stated initially.

    After the news broke out, several speculations arose regarding the origin of such funds. While the source of the wealth is a big issue to the public, Lopez claimed that the citizens should not focus on how the funds existed. Rather, it should be a question of how will the funds be released and dispensed.

    “People are talking about so many ancillary issues here: that they're giving all or only part of it, that it was merely being kept by the family (as if held in trust), as per the late president's instructions, until a righteous Philippine leader comes along (and they believe Duterte is it), or that it's from the fabled Yamashita war loot, a portion of the supposedly vast Tallano fortune, if it's unexplained, ill-gotten, or simply hidden…For me, it's not so much a question of how much there is (hundreds of billions of dollars worth of gold if you believe some estimates) but just plain how. How do you unfreeze something you've no authority to unfreeze?” Lopez speculated.

    “It's a long process so don't get too excited yet.” Lopez added briefly before he concluded his post.

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