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Fertilizer Fund scam
The Fertilizer Fund scam is a Philippine political controversy involving accusations that Agriculture UndersecretaryJocelyn Bolante diverted ₱728 million in fertilizer funds to the 2004 election campaign of PresidentGloria Macapagal Arroyo.
Background
When Operation Big Bird concluded in late 1986, the Philippine government was able to identify and recover US$356 million from the Swiss Bank deposits of Ferdinand Marcos and wife Imelda Marcos.[1] While the money sat in a Philippine government account in Switzerland, successive administration debated what to do with the funds.
By 1998 the funds had grown to $570 million with interest, and were transferred to an escrow account in Philippine National Bank.
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In July 2003, the Supreme Court of the Philippines ruled with finality that the funds were ill-gotten and thus are considered public funds. Pres. Arroyo announced that the money in accordance with the law on recovered ill-gotten wealth from th
