Posted by: JWP | 10/21/2009

Immunity ruled out for Lucio Tan’s brother

MANILA, Philippines—Government lawyers maintained that the brother of Lucio Tan must not be given immunity from suit in exchange for testifying on the pending ill-gotten wealth cases against the business tycoon.

The prosecution alleged that Ferdinand Marcos had 60% beneficial ownership in said companies, which beneficial interests were held in trust by Tan personally and through his family members and business associates who appeared as the recorded stockholders of said companies.  MORE

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