Back to top
Tycoon Lucio Tan's ill-gotten wealth case gets dismissed by Sandiganbayan after 25 years of litigation
ABS-CBNNews.com reports: "After nearly 25 years of litigation, the Sandiganbayan has dismissed the ill-gotten wealth complaint filed by the government against business tycoon Lucio Tan."
Published on: Jun 14, 2012 - 9:00am

1

4


3
Share this Article

ABS-CBNNews.com reports: "After nearly 25 years of litigation, the Sandiganbayan has dismissed the ill-gotten wealth complaint filed by the government against business tycoon Lucio Tan." The report quoted Tan's lawyer, Atty. Estelito Mendoza, who said, "It is Dr. Tan's hope that with this decision of the Sandiganbayan, the PCGG [Presidential Commission on Good Government] will relent in its effort to lay claim to his assets and in restricting the exercise of full rights over those properties."

 

The report revealed that the decision on Tan's case was "issued last June 11 on Civil Case No. 0005." The report explained: "The fifth division of the anti-graft court said the PCGG does not have evidence to forfeit the tycoon’s assets."

 

The report noted that the government "started sequestering Tan's shares of stock in major corporations in 1986." However, as the report points out, "the anti-graft court nullified the writs of sequestration separately in 1993 and 2006, saying there was no prima facie evidence to consider them as ill-gotten." The report also clarified that "the nullification of the sequestration was affirmed subsequently by the Supreme Court."

 

For more on this story, log on to ABS-CBNNews.com.

Username   * required
Security Code Security Code  * required
 
NOTE: SPOT.ph editors reserve the right to moderate and delete comments, without notice, that contain abusive or threatening behavior, contain advertising, spam, profanity or malicious comments.
3 Comments
  • Genuine
    It's common knowledge that he hit the big time during the Marcos dictatorship. That he, allegedly, got some concessions from that blasted regime. Made to look guilty through association. So he got the services of the country's best defense lawyer. Took a quarter of a century, but still, got him off the hook.
    Jun 14 2012 @ 01:47pm     Reply  
  • Eyeball
    When no one was looking...
    Jun 14 2012 @ 01:25pm     Reply  
  • jeeez
    what a waste of paper
    Jun 14 2012 @ 12:14pm     Reply  
1 to 3 of 3