The Presidential Commission on Good Government (PCGG) and the Bureau of Customs (BOC) have signed an agreement for the auction of recovered Marcos Jewelry Collection.
The PCGG was behind the recovery of ill-gotten wealth of late former President Ferdinand Marcos and his cronies, while the Bureau of Customs was mandated to prosecute violators of the Tariff and Customs Code of the Philippines.
On March 1, 1986, the BOC seized from one Demetrious Roumeliotes, an American citizen and an alleged close associate of the Marcoses, a huge collection of valuable jewels intended to be illegally brought out of the country.
The Roumeliotes Collection and another collection of extravagant pieces of jewelry known as the Hawaii Collection together are referred to as the Marcos Jewelry Collection, which the BOC holds in trust for the government.
A 1991 valuation of the Marcos jewelry stash, including the contested Malacanang Collection, under the custody of the President, is still subject of an appeal, but estimated to have a value 5 to 8 million US dollars.
Under the agreement, the BOC and PCGG commit to undertake successful physical inventory, appraisal and auction of the Marcos collection.
An Inter-Agency Working Group (IWG) shall be constituted to coordinate efforts and responsibilities of the two parties and other concerned government offices to carry out their objective.
The IWG shall, aside from establishing the Terms of Reference, procure auction services in accordance with all relevant government procurement laws and regulations such as RA 9184.
It shall also supervise and coordinate with the winning bidder/auction house the actual holding of the auction for the Marcos Jewelry Collection.
The agreement was signed by BOC Commissioner Alberto Lina and PCGG Chairman Richard Amurao.
PCGG Commissioner Andrew Felix Arsenio de Castro and BOC Deputy Commissioners Arturo Lachica and Agaton Uvero witnessed the recent signing of the agreement.
Lina and Amurao vowed to work together for a successful appraisal and bloc sale of the collection to maximize proceeds.
The parties also assured the public that the proceeds shall be deposited without delay in the respective accounts of the National Treasury.