Asset Recovery Watch

ARW-62
Ferdinand and Imelda Marcos / Accounts in names of associates
Philippines
President (F. Marcos,1965-1986); First Lady, Governor of Metro Manila and Minister of Human Settlements (I. Marcos. Governor and Minister from 1978-1986) / Associates (Names Unknown)
Switzerland
Undertaking Recovery Effort, Location of Recovery Effort, Asset Location / Alleged Asset Location
2003
Unknown
Art.15, Art.16, Art.17, Art.18, Art.19, Art.20, Art.23
Yes
Unspecified
MLAT
International Mutual Assistance in Criminal Matters
[Unknown Status]
Ongoing
Investigation/Asset Tracing/Asset Restraint
$15,000,000 (as of 2003)
Ongoing
NA

The Swiss Federal Office of Justice press release of August 5, 2003 included this mention: "The Office of the District Attorney IV for Canton of Zurich subsequently released assets worth approximately USD 30 million because the Phillippine authorities were unable to provide evidence that they were still pursuing criminal proceedings against the individuals concerned. Around USD 10 million remain frozen in Switzerland. The Phillippine judicial authorities will therefore have to issue a ruling on the confiscation of USD 15.5 million in the names of persons associated with the Marcos case." (Source: Swiss Federal Office of Justice Press Release, "Philippines given access to over USD 683 million, Confiscation ruling closes Marcos case," August 5, 2003.)

A trial in the U.S. District Court for the Southern District of New York on criminal racketeering and fraud charges concluded in an acquittal for Mrs. Marcos. Mr. Marcos had also been indicted in the case, but the court had deemed him too ill to stand trial. (Sources: US v. Tantoco, et al, Case No. 1-87-cr-598-JFK (S.D.N.Y.), Docket Report accessed on January 2, 2011 and Indictment of October 22, 1988, obtained from US National Archives; Craig Wolff, "The Marcos Verdict; Marcos Is Cleared of All Charges In Racketeering and Fraud Case," New York Times, July 3, 1990.) On April 21, 2010, the GMA News reported that "According to records of the Philippine anti-graft court Sandiganbayan as of 2005, Mrs. Marcos continues to face 11 criminal charges and 25 civil cases." (Source: Sohpia Regina M. Dedace, "Imelda Marcos and her road to vindication," GMA News, April 21, 2010, accessed at http://www.gmanews.tv/story/188960/imelda-marcos-and-her-road-to-vindica....)

Presidential Commission on Good Government
Presidential Commission on Good Government
Sandiganbayan, Supreme Court of the Republic of the Philippines
Unspecified
District Attorney IV for Canton of Zurich
Unknown