The Office of the Solicitor General of the Philippines announced that after the deadline set by President Ferdinand Marcos for the complete ban on Philippine Offshore Gaming Operators (POGO) by the end of 2024, the national legal team will initiate a detailed inventory and handling of the assets of the closed POGO businesses.
The focus of the inventory includes revoking the identities of foreigners who obtained Philippine birth certificates through fraudulent means, as well as confiscating their illegally acquired immovable properties and other assets in the Philippines. It is reported that the individuals involved are mostly Chinese citizens.
So far, the specific amount of assets involved has not been disclosed, but it is expected to include a large amount of land and real estate outside the capital region of Metro Manila. These assets are alleged to be related to illegal activities, such as drug trafficking, and the government will prioritize taking over and controlling these measures.
According to congressional investigations, Chinese citizens have obtained Philippine citizenship by forging birth certificates, thereby legally establishing companies and acquiring land. These companies have been found to engage in activities including illegal gambling and drug smuggling, further raising social concerns.
Presidential Executive Secretary Lucas Bersamin recently emphasized that the government is accelerating the seizure and takeover of related assets. However, he also admitted that although the legal framework is clear, the actual implementation is still "slow".
Currently, both houses of Congress are promoting a new bill that would grant the government full authority to confiscate POGO assets. The content of the bill includes taking over all buildings, equipment, and their revenues involved in illegal POGO operations, ultimately transferring ownership of the assets to the state.
This series of measures aims to thoroughly combat illegal activities and strengthen the supervision of foreigners' assets, while demonstrating the Philippines' determination to govern illegal economic activities to the international community.
