Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Trump prepares to unveil sweeping new US tariffs on 'Liberation Day'    At least 22 civilians killed in Israeli strike on UNRWA clinic in Gaza    UK says it won't jump into US trade war as Starmer urges calm response to tariffs    Russia, Ukraine trade fresh accusations of violating US-brokered energy ceasefire deal    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Over 1 million pilgrims benefit from golf cart service at Grand Mosque during Ramadan    Visitors welcomed with Eid initiative at Thee Ain Heritage Village in Al-Baha    Tebuk emir reviews rain response in Tayma    Saudi Arabia considers rent cap as part of major real estate reforms    Messi's bodyguard banned from touchline at Inter Miami games    Screen time in bed linked to insomnia, study finds    Haramain High-Speed Railway transports over 1.2 million passengers during Ramadan    Saudi Transport Authority says passengers can ride for free if taxi meters are off    Ministry of Education forms 425 community partnerships with SR653 million impact    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    T1 CEO confirms Gumayusi's return for LCK Spring after lineup shakeup    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Govt recovers $29m from Marcos accounts
Published in The Saudi Gazette on 13 - 02 - 2014

Andres Bautista, head of the Philippine Commission on Good Government (PCGG), which is tasked to recover the alleged ill-gotten wealth of the late strongman Ferdinand Marcos, speaks in a news conference at suburban Mandaluyong city east of Manila on Wednesday. — AP
MANILA — The Philippine government has recovered more than $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 Friday.
The money, recovered over the last week, is part of the more than $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.
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, Bautista said at a news conference.
Authorities have already recovered more than $4 billion from an estimated $5-10 billion amassed by the Marcoses during the dictator's 20-year rule, he said.
Bautista said last month that the government was targeting at least 50 billion pesos ($1.1 billion) more.
“There is still a lot of work that can be done in respect to pursuing ill-gotten wealth,” he said Wednesday. “We should not allow ill-gotten wealth, the taking of ill-gotten wealth, to go unpunished.”
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.
Bautista said the government had filed more than 200 civil cases for recovery and forfeiture of ill-gotten assets, including real estate, amounting to about 30-40 billion pesos ($667-$890 million) from the Marcos family, their cronies and associates.
It is also seeking more than 150 paintings of “prominent masters and artists” collected by the Marcos family that went missing after the Marcoses were forced to flee from the presidential palace during the February 1986 “people power” uprising.
Bautista declined to comment when asked whether he believes Marcos' widow, Imelda, and their three children are still living off their hidden wealth.
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, remains low key and has kept away from politics. — AP


Clic here to read the story from its source.