Roberto Benedicto
Roberto Salas Benedicto (April 17, 1917[1] – May 15, 2000) was a Filipino lawyer, ambassador, diplomat, and banker historically most remembered[2] as a crony of President Ferdinand Marcos.[1] Benedicto, born in La Carlota, Negros Occidental on April 17, 1917,[1]: 100 was a contemporary of Ferdinand Marcos, becoming his classmate and fraternity brother while studying at the University of the Philippines College of Law.The confiscated documents revealed that since the 1970s, Marcos and his associates received commissions of 10 to 15 percent of Overseas Economic Cooperation Fund loans from about fifty Japanese contractors.[12] Marcos's proclamation of martial law allowed Benedicto to take control of the Philippine Exchange Company (Philex), which monopolized local hacienderos' (sugar barons) international trade.[14] This monopoly secured Benedicto's political ties with Marcos and generated income as the owner of the sole running television and radio stations.[1] His growing media empire received government favors from the Marcos administration, with the president granting several Letters of Instruction (LOIs) for Benedicto's benefit.In 1977, Marcos issued LOI 640 to allow Banahaw Broadcasting Corporation, one of Benedicto's companies, to import $3 million worth of TV transmission equipment and facilities, without paying taxes or tariffs.[16] The Consumer Electronic Products Manufacturers Association (CEPMA) complained that the television sets meant for rural areas were being sold in Manila, greatly affecting their market.