duterte allows auction of seized marcos jewelry worth millions - cheap jewelry sets
(Bloomberg)--A rare 25-
Diamonds and gems
Studded tiaras is one of the millions of dollars worth of Marcos jewelry auctioned by the Philippine government.
The executive secretary, Salvador Medialdea, said on Tuesday that President Rodrigo Duterte had issued an auction of three sets of jewelry recovered from the family and colleagues of the late dictator Ferdinand Marcos
Estimated value at the last assessment in 2015 at $19 million-
It has been in the central bank's coffers for 30 years.
"The presidential office does not object to the proposed activities related to the disposal of Marcos jewelry collection, provided that the existing laws are complied with," Medialdea said in a statement . ".
Eight months ago, the Commission tracking the stolen wealth of Marcos proposed an auction to Duterte, estimated at a total of $10 billion.
Presidential spokesman Salvador Panelo said Monday that anyone, including Marcoses, could bid for jewelry.
Duterte said Marcos's daughter, May, helped fund his campaign and was willing to resign if the late dictator's son, Bang, won the election protest and became vice president.
Philippine leaders also allowed Marcos to hold a heroic funeral.
Get in touch with reporters on this story: Andre Carlo, Manila
NetTo contacted the editor in charge of the story: Cecilia Yap of cyap19 @ bloomberg.
Carl Lester M.
For more articles like this, please visit us at Bloomberg.
Com©2019 Bloomberg L. P.