Jonell Rhae Manalo

Due to lack of evidence, the Sandiganbayan has ruled out the remaining six (6) ill–gotten wealth cases against the late President Ferdinand Marcos Sr., his wife Imelda, and the late tycoon Eduardo Cojuangco Jr., with the involvement of the coconut levy controversy after nearly four decades since the original complaint from 1988.

Photo Courtesy of Bloomberg.

The coco levy, imposed by Marcos Sr. between 1973 and 1982, was intended to develop the coconut industry but was later used to acquire significant assets, including shares in First United Bank and San Miguel Corporation.

Following the 1986 People Power Revolution, the government sequestered these assets, and cases were filed in 1987 against the Marcoses and their associates for the alleged grave misuse of public funds.

In a 42-page resolution by the anti graft court, it stated that there were chances where witnesses and evidence could have been presented but was not done by the claimant.

“There have been many opportunities for the plaintiff to begin its initial presentation of evidence and witnesses throughout these decades, and yet it did not choose to do so,” the resolution stated.

The last six cases involved the alleged creation of companies using coco levy funds, including the formation and operation of the Bugsuk project.

They also covered the award of P998 million in damages to agricultural investors, disadvantageous purchases, settlement of oil mill accounts, unlawful disbursement of funds, the acquisition of Pepsi-Cola, and the granting of behest loans and contracts.

The court also stated that those involved were faced with bigotry because of the prolonged trials and lack of evidence.

The court said, “Herein, defendants have undoubtedly suffered prejudice due to the lengthy and seemingly interminable threat of prosecution.”

Together with the absence of evidence, the prolonged delay was cited as a key reason for the dismissal of the cases, as it infringed upon the defendants' right to a speedy trial.