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.
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Down with Dictators: Ferdinand Marcos

By William Lee AdamsThursday, Oct. 20, 2011

Ferdinand Marcos. Photo courtesy of Romeo Gacad thru AFP/Getty Images.

Ferdinand Marcos. Photo courtesy of Romeo Gacad thru AFP/Getty Images.

In September 1972, following a failed assassination attempt on one of his chief aides, Ferdinand Marcos declared martial law in the Philippines. Marcos, who had been elected President in 1964, exaggerated the threat of communist revolutionaries and used it to justify shutting down the press and arresting several of his political opponents. Initially Marcos did good for the country as an autocrat: inflation dropped and government revenue increased. But widespread cronyism and corruption — including the siphoning of billions of state funds into Marcos’ Swiss bank account — undermined his legitimacy. His glamorous wife Imelda — she of the shoe closet — seemed to embody the regime’s brazen excesses. And the 1983 assassination of Benigno Aquino Jr., Marcos’ chief political rival, galvanized opposition. Hoping to quell international criticism, he staged snap elections in 1986, but the move backfired as a result of the violence, intimidation and coercion he deployed. Abandoned by his closest rivals, Marcos fled the country several weeks later, paving the way for the rightful winner — Aquino’s widow Corazon — to take power. Marcos died in exile in Hawaii three years later, but his wife, his son and some of his old allies still wield influence in the Philippines’ unpredictable democracy.

SOURCE: http://content.time.com/time/specials/packages/article/0,28804,2097426_2097427_2097447,00.html

Transparency International on Ferdinand Marcos

Transparency International lists Ferdinand Marcos as the 2nd most corrupt leader of all time, just behind Indonesia's Mohamed Suharto

Transparency International lists Ferdinand Marcos as the 2nd most corrupt leader of all time, just behind Indonesia’s Mohamed Suharto

Repatriation was a major issue in the case of former president Ferdinand Marcos of the Philippines, and his family. Only after protracted litigation did the Swiss authorities finally agree to assist the Presidential Commission on Good Governance (PCGG), a non-judicial authority investigating the Marcos family. The decision was taken though no charges had been brought against the Marcoses in the Philippines, where the authorities were awaiting evidence from the Swiss. After considering whether assets held in Swiss accounts would be returned to the Philippines, the Swiss supreme court ruled that the assets should indeed be returned, but subject to the following requirements:

* The government of the Philippines must file a criminal charge and/or bring forfeiture proceedings against the Marcoses within one year, failing which the assets would be unfrozen.
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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.
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Filipinos Say Marcos Was Given Millions for ’76 Nuclear Contract

By FOX BUTTERFIELD, Special to the New York Times
Published: March 7, 1986

MANILA, March 6 — Former President Ferdinand E. Marcos received most of an $80 million payment 10 years ago for awarding a lucrative contract to build the first nuclear power plant in the Philippines, according to Filipino lawyers, bankers and Government officials.

The payment, by the Westinghouse Electric Company, went to a close associate of Mr. Marcos and the bulk of it was later turned over to the former president, the sources said. The power plant has not yet been completed.
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