Government to auction off Marcos jewelry collection

THE Bureau of Customs (BOC) and the Presidential Commission on Good Government (PCGG) have signed an agreement to auction off the Marcos Jewelry Collection which has an estimated value of $5 million-$8 million.

An Inter-Agency Working Group (IWG) will supervise and coordinate with the winning bidder/auction house the sale of the Marcos Jewelry Collection, which includes 60 pieces seized from Demetrious Roumeliotes shortly after the Marcoses were ousted from power in 1986.

Roumeliotes is a Greek associate of former First Lady and now Ilocos Norte Representative Imelda Marcos.

The BOC and PCGG assured the public that the proceeds shall be deposited to the National Treasury.

Under the memorandum of understanding signed on October 21, the BOC and PCGG will conduct physical inventory, appraisal and auction of the ill-gotten wealth of former President Ferdinand Marcos, his family and associates.

The PCGG has been tasked to retrieve, regain, and recover all the sequestered wealth and, in whatever form they were accumulated while the BOC is the agency tasked to stop, prevent and prosecute violations of the Tariff and Customs Code of the Philippines. (FP/Sunnex)
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