Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Why they still matter in modern portfolios
    • 3 reasons why stopping your SIP in March 2026 could be a Rs 4.3 lakh mistake – Money Insights News
    • Equity Mutual Funds Jump, FDs Slide
    • How Is It Possible That 78% of Vanguard’s Equity ETFs Are Outperforming the S&P 500 in 2026?
    • US equity funds record biggest outflows in eight weeks as geopolitical worries mount
    • Property power: Women building wealth and legacy through real estate
    • A Large-Cap Fund For Volatile Markets
    • International Women’s Day 2026: Meet The Women Managing Top Mutual Funds In India | Markets News
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»Thousands in Philippines protest corruption, demand return of stolen project funds
    Funds

    Thousands in Philippines protest corruption, demand return of stolen project funds

    November 29, 2025


    MANILA, Philippines — Thousands of demonstrators including from the Roman Catholic church clergy protested in the Philippines on Sunday, calling for the swift prosecution of top legislators and officials implicated in a corruption scandal that has buffeted the Asian democracy.

    Left-wing groups led a separate protest in Manila’s main park with a blunt demand for all implicated government officials to immediately resign and face prosecution.

    President Ferdinand Marcos Jr. has been scrambling to quell public outrage over the massive corruption blamed for substandard, defective or non-existent flood control projects across an archipelago long prone to deadly flooding and extreme weather in tropical Asia.

    More than 17,000 police officers were deployed in metropolitan Manila to secure the separate protests. The Malacanang presidential palace complex in Manila was in a security lockdown with key access roads and bridges blocked by anti-riot police forces, trucks and barbed wire railings.

    In a deeply divided democracy where two presidents have been separately overthrown in the last 39 years partly over allegations of plunder, there have been isolated calls for the military to withdraw support from the Marcos administration.

    The Armed Forces of the Philippines has steadfastly rejected such calls and welcomed on Sunday a statement signed by at least 88 mostly retired generals, including three military chiefs of staff, who said they “strongly condemn and reject any call for the Armed Forces of the Philippines to engage in unconstitutional acts or military adventurism.”

    “The unified voice of our retired and active leaders reaffirms that the Armed Forces of the Philippines remains a pillar of stability and a steadfast guardian of democracy,” the military said in a statement.

    Roman Catholic churches across the country helped lead Sunday’s anti-corruption protests in their districts, with the main daylong rally being held at a pro-democracy “people power” monument along EDSA highway in the capital region. Police said about 5,000 demonstrators mostly wearing white joined before noon.

    They demanded that members of Congress, officials and construction company owners behind thousands of anomalous flood control projects in recent years be imprisoned and ordered to return the government funds they stole. A protester wore a shirt with a blunt message: “No mercy for the greedy.”

    Since Marcos first raised alarm over the flood control anomalies in his state of the nation address before Congress in July, at least seven public works officers have been jailed for illegal use of public funds and other graft charges in one flood control project anomaly alone. Executives of Sunwest Corp., a construction firm involved in the project, were being sought.

    On Friday, Henry Alcantara, a former government engineer who has acknowledged under oath in Senate inquiry hearings his involvement in the anomalies, returned 110 million pesos ($1.9 million) in kickbacks that justice officials said he stole and promised to return more in a few weeks.

    About 12 billion pesos ($206 million) worth of assets of suspects in flood control anomalies have been frozen by authorities, Marcos said.

    Marcos has pledged that many of at least 37 powerful senators, members of Congress and wealthy construction executives implicated in the corruption scandal would be in jail by Christmas.

    Protesters in Sunday’s rallies said many more officials, including implicated senators and House of Representatives members, should be jailed sooner and ordered to return the funds they stole and used to finance fleets of private jets and luxury cars, mansions and extravagant lifestyles.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    US equity funds record biggest outflows in eight weeks as geopolitical worries mount

    March 7, 2026

    How SIFs Differ from Mutual Funds, And Why it Matters – Money Insights News

    March 6, 2026

    Beyond Bluechips: Top 5 thematic funds for your 2026 portfolio – Mutual Funds News

    March 6, 2026
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Why they still matter in modern portfolios

    March 8, 2026

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    Bonds

    Why they still matter in modern portfolios

    March 8, 2026

    In today’s investment landscape, obsessed with equity market headlines, geopolitical tensions, persistent inflation, interest rate…

    3 reasons why stopping your SIP in March 2026 could be a Rs 4.3 lakh mistake – Money Insights News

    March 8, 2026

    Equity Mutual Funds Jump, FDs Slide

    March 8, 2026

    How Is It Possible That 78% of Vanguard’s Equity ETFs Are Outperforming the S&P 500 in 2026?

    March 8, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    QQQ vs. MGK: How These Two Tech-Focused Growth ETFs Compare for Investors

    November 17, 2025

    India’s Corporate Giants Secure AAA Ratings With Bold Bond Moves

    October 24, 2024

    RealtyMogul Unveils New 1031 Exchange Investments Program

    August 20, 2024
    Our Picks

    Why they still matter in modern portfolios

    March 8, 2026

    3 reasons why stopping your SIP in March 2026 could be a Rs 4.3 lakh mistake – Money Insights News

    March 8, 2026

    Equity Mutual Funds Jump, FDs Slide

    March 8, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.