Bongbong Marcos denies links to ill-gotten wealth deal

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Former senator Bongbong Marcos. (FILE PHOTO)

Metro Manila (CNN Philippines, January 2) — The Marcos family has nothing to do with a proposal on the return of supposed ill-gotten wealth in exchange for dropping all cases against them, former senator Bongbong Marcos said.

"The Marcos family has no knowledge or information on that apparent exchange and service of document between Atty. Lozano and the office of Sec. (Salvador) Panelo. As a point of information,  Atty. Oliver Lozano does not represent any member of the Marcos family or the estate of the late President Ferdinand Marcos," he said in a statement Tuesday.

Photos of Lozano's documents circulated on social media Monday. The documents showed Panelo, the Chief Presidential Legal Counsel, acknowledged their receipt.

Lozano was the lawyer of then President Ferdinand Marcos. He also ran and lost in the 2004 senatorial race under the Marcos' Kilusang Bagong Lipunan party.

Lozano also said he had sent copies of the proposal to both houses of Congress, and the Presidential Commission on Good Government (PCGG), which is tasked to recover the Marcos family's ill-gotten wealth.

In October 2016, Bongbong Marcos said government can have their family's supposed ill-gotten wealth should it find any.

Data from the World Bank-United Nations Office on Drugs and Crime's Stolen Asset Recovery Initiative showed former President Marcos started amassing an estimated $5-billion to $10-billion in ill-gotten wealth since his first year in 1965 until he was ousted in 1986.

In February 1986, former President Corazon Aquino created PCGG through Executive Order 1. The agency has recovered over ₱170 billion since then until December 2015.