Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • SIF Funds Explained: The High-Conviction Alternative Redefining Smart Investing
    • Why SEBI is rethinking how mutual fund executives’ salary is disclosed: Investor rights vs employee privacy
    • SIF assets rise 12% in May; hybrid long-short strategies account for 70% of AUM: ValueMetrics
    • ETF assets are surging. Here’s how they differ from mutual funds
    • Mutual Fund Investment Guide: Lump sum, SIP, redemption: How mutual fund money flows actually work | Personal Finance
    • AMFI Data Decoded: Equity Mutual Fund Inflows Fall To One-Year Low, Gold ETF Record 1st Outflow in 13 Months
    • Infra funds steal the show: 5 schemes among top 10 SIP performers over the last decade – Money News
    • Direxion to Split Nine ETFs
    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 and demand return of stolen funds from flood projects
    Funds

    Thousands in Philippines protest corruption and demand return of stolen funds from flood projects

    December 1, 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 nonexistent 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 officers, 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.

    Image: TOPSHOT-PHILIPPINES-POLITICS-CORRUPTION-PROTEST
    An anti-corruption rally in Quezon City, Manila, on Sunday.Jam Sta Rosa / AFP via Getty Images

    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.”

    “If money is stolen, that’s a crime, but if dignity and lives are taken away, these are sins against fellow human beings, against the country but, most importantly, against God,” said the Rev. Flavie Villanueva, a Catholic priest, who has helped many families of impoverished drug suspects killed under former President Rodrigo Duterte’s crackdowns.

    “Jail all the corrupt and jail all the killers,” Villanueva told the crowd of protesters.

    Filipinos Join Mass Anti-Corruption Protests
    A man waving a Philippine flag during a protest against corruption at Rizal Park in Manila on Sunday.Lisa Marie David / Getty Images

    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

    SIF assets rise 12% in May; hybrid long-short strategies account for 70% of AUM: ValueMetrics

    June 10, 2026

    Pension funds must ’embrace’ private markets to fuel growth

    June 9, 2026

    Mutual Fund Taxation: Selling your mutual funds? Here are the taxes you may have to pay | Personal Finance

    June 9, 2026
    Leave A Reply Cancel Reply

    Top Posts

    SIF assets rise 12% in May; hybrid long-short strategies account for 70% of AUM: ValueMetrics

    June 10, 2026

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

    September 11, 2023

    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
    Mutual Funds

    SIF Funds Explained: The High-Conviction Alternative Redefining Smart Investing

    June 11, 2026

    The Indian investment sector in 2026 is no longer a binary choice between mass-market mutual…

    Why SEBI is rethinking how mutual fund executives’ salary is disclosed: Investor rights vs employee privacy

    June 11, 2026

    SIF assets rise 12% in May; hybrid long-short strategies account for 70% of AUM: ValueMetrics

    June 10, 2026

    ETF assets are surging. Here’s how they differ from mutual funds

    June 10, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    How to handle capital gains from debt mutual funds after tax overhaul

    August 20, 2025

    3 Magnificent Mutual Funds to Maximize Your Retirement Portfolio

    July 17, 2024

    Top private equity groups capture largest fundraising share in a decade

    January 7, 2026
    Our Picks

    SIF Funds Explained: The High-Conviction Alternative Redefining Smart Investing

    June 11, 2026

    Why SEBI is rethinking how mutual fund executives’ salary is disclosed: Investor rights vs employee privacy

    June 11, 2026

    SIF assets rise 12% in May; hybrid long-short strategies account for 70% of AUM: ValueMetrics

    June 10, 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

    ₹9000 monthly SIP can help you retire at 45 with ₹2 lakh monthly pension

    May 5, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

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