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For this purpose, Congress allocated ₱10 billion from funds transferred to the Philippine government by virtue of the December 10, 1997, Order of the Swiss Federal Supreme Court, adjudged by the Supreme Court of the Philippines as final and executory in Republic vs. Sandiganbayan on July 15, 2003, (G.R. No. 152154) as Marcos ill-gotten wealth ...
In late November 2022, seven lawmakers in the Philippine House of Representatives, including Martin Romualdez and Sandro Marcos, filed House Bill No. 6398, [b] proposing the creation of a sovereign wealth fund for the Philippines to be known as the Maharlika Wealth Fund (MWF), inspired from South Korea's sovereign wealth fund.
The Coco Levy Fund Scam was a controversy in the 1970s and 1980s in the Philippines involving former President Ferdinand Marcos and his cronies.It was alleged that Marcos, Danding Cojuangco, Juan Ponce Enrile, and others conspired to tax coconut farmers, promising them the development of the coconut industry and a share of the investments, but on the contrary used the collection fund for ...
While the money sat in a Philippine government account in Switzerland, successive administration debated what to do with the funds. By 1998 the funds had grown to $570 million with interest, and were transferred to an escrow account in Philippine National Bank. In July 2003, the Supreme Court of the Philippines ruled with finality that the ...
The Priority Development Assistance Fund scam, also called the PDAF scam or the pork barrel scam, is a political scandal involving the alleged misuse by several members of the Congress of the Philippines of their Priority Development Assistance Fund (PDAF, popularly called "pork barrel"), a lump-sum discretionary fund granted to each member of Congress for spending on priority development ...
Date Branch Department Party People Involved Summary Source 1946 Executive: Office of the President: Liberal: Manuel Roxas: Surplus War Property scandal- disposed $90 billion of surplus war property held by the United States government in the final year of World War II, which caused a huge corruption scandal that led to the rise of the leftist HUKBALAHAP and for Roxas's approval ratings to ...
Some Filipinos called the fiat peso by the derogatory term "Mickey Mouse money". [3] Many survivors of the war tell stories of going to the market laden with suitcases or "bayóng" (native bags made of woven coconut or buri leaf strips) overflowing with the Japanese-issued bills.
People's Television Network (Filipino: Pambansang TV; [2] abbreviated PTV) is the flagship state broadcaster owned by the Government of the Philippines.Founded in 1974, PTV is the main brand of People's Television Network, Inc. (PTNI), one of the attached agencies under the Presidential Communications Office (PCO).