Philippines Recovers US$29m from Marcos Accounts

PUBLISHED : Wednesday, 12 February, 2014, 5:19pm
UPDATED : Wednesday, 12 February, 2014, 5:45pm
Associated Press in Manila

The Philippine government has recovered more than US$29 million from the Swiss accounts of late dictator Ferdinand Marcos and the search for more of his hidden wealth continues 28 years after he was toppled, an official said on Friday.

The money, recovered over the last week, is part of the more than US$712 million from Marcos’ secret Swiss accounts now in government hands, said Andres Bautista, chairman of the Presidential Commission on Good Government, the agency in charge of recovering Marcos’ allegedly ill-gotten wealth.
Continue reading


Ferdinand Marcos’s Daughter Tied to Offshore Trust in the Caribbean

by Roel Landingin and Karol Ilagan

MARIA IMELDA Marcos Manotoc, the Princeton-educated eldest child of the late Philippine dictator Ferdinand Marcos and now a senior political figure in her own right, is beneficiary of a secret offshore trust.

The hardworking and popular provincial governor — widely known as Imee Marcos — is one of the beneficiaries of the Sintra Trust, which financial records uncovered by the International Consortium of Investigative Journalists show to have been formed in June 2002 in the British Virgin Islands. Other beneficiaries are Imee Marcos’ adult sons with estranged husband Tomas Manotoc: Ferdinand Richard Michael Marcos Manotoc, Matthew Joseph Marcos Manotoc, and Fernando Martin Marcos Manotoc.
Continue reading

Suharto, Marcos and Mobutu Head Corruption Table with $50bn Scams

The Guardian, Friday 26 March 2004 09.51 GMT

The following correction was printed in the Guardian’s Corrections and Clarifications column, Tuesday March 30 2004

In the article below, we mentioned the Bribe-Payers Index, published by Transparency International and said that companies from Australia, Sweden, Switzerland, Austria and Canada topped the list. Companies from those countries are least likely to bribe, not most likely to. The misunderstanding came from an agency report of the TI press conference.

Mohammed Suharto, Ferdinand Marcos and Mobutu Sese Seko ripped off up to $50bn (£28bn) from the impoverished people of Indonesia, the Philippines and Zaire, a sum equivalent to the entire annual aid budget of the west, anti-bribery campaigners said yesterday.

Releasing a list of the top 10 most corrupt politicians of the past two decades, headed by the former Indonesian dictator, Transparency International warned that the scale of political corruption was undermining hopes for prosperity in the developing world and damaging the global economy.
Continue reading

Records Rebut Reagan’s Comment on How Marcos Made His Money, Filipino Says

By DAVID K. SHIPLER, Special to the New York Times
Published: March 15, 1986

WASHINGTON, March 14— Ferdinand E. Marcos’s tax returns show that he was not a wealthy man before becoming President of the Philippines 20 years ago, the head of a Philippine Government commission said today.

The official, Jovito R. Salonga, chairman of the commission investigating Mr. Marcos’s financial affairs, said in an interview here that in 1966, Mr. Marcos’s first year as President, the Philippine leader put his assets at approximately $30,000; Philippine investigators believe he is worth more than $5 billion today.
Continue reading