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Philippines Recovers $29M From Marcos Accounts
Key Excerpts from Article on Website of ABC News/Associated Press
Posted: February 16th, 2014
http://abcnews.go.com/International/wireStory/philippines-re...
The Philippine government has recovered more than $29 million from the Swiss accounts of late dictator Ferdinand Marcos and is still searching for more of his hidden wealth 28 years after he was toppled. The money, recovered over the last week, is part of the more than $712 million from Marcos' secret Swiss accounts now in government hands. The government won ownership of the funds after several years of litigation in Singapore courts over claims by victims of human rights violations under Marcos' rule and private foundations representing the Marcoses. Authorities have already recovered more than $4 billion from an estimated $5 billion to $10 billion amassed by the Marcoses during the dictator's 20-year rule. The Supreme Court ruled in 2003 that the Marcoses wealth in excess of their total legal income of around $304,000 from 1965 to 1986 was presumed to be ill-gotten. Marcos died in exile in Hawaii in 1989 without admitting any wrongdoing during his presidency. Imelda Marcos is a member of the House of Representatives. Her eldest child, daughter Imee, is governor of their northern home province of Ilocos Norte, while her son, Ferdinand Jr., is a senator. Her other daughter, Irene, has kept away from politics.
Note: This article fails to mention that Marcos was considered a strong ally and propped up by the US, which supported his strong-arm rule with financial support. For more on government corruption, see the deeply revealing reports from reliable major media sources available here.
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