A report from the Commission on Audit (COA) has found that former officials of the Presidential Commission on Good Government (PCGG) are accountable for a ₱190-million loss linked to the sale of government-sequestered assets at undervalued prices.
The audit revealed that the sale was conducted without ensuring full market value, resulting in significant foregone revenue for the government. COA has flagged the executives for liability and recommended that appropriate legal and administrative actions be taken.
The former PCGG officials now face the possibility of being required to make good the losses and may also face sanctions or criminal proceedings depending on the investigation’s outcome.