Marcos charged with embezzling $5B
NZPA-AP Manila Philippines Government lawyers have accused the former President, Ferdinand Marcos, his wife and 24 associates of embezzling at least SUSS billion ($9.05 billion) in foreign loans and other funds in the first corruption charge filed against the MarCOS6S. 4The Solicitor-(Attomey) General, Mr Sedfrey Ordonez, in a formal complaint filed with the Commission on Good Government, also accused the Marcoses and their friends of misappropriat-
ing United States military aid and “demanding ... or receiving” gifts and kick-backs in a “grand conspiracy never before experienced” in the Philippines. The complaint accused them of “unjust enrichment” and said their alleged illegal wealth included mansions, condominiums, corporations, shopping centres, real estate, cash, jewellery, and other valuables in the Philippines and in the United States, Switzerland, Britain, Austria, Italy, and Canada.
Others named in the charge sheet were the Marcos’s two daughters and their husbands, Mr Marcos’s son, Ferdinand, the former Armed Forces chief, General Fabian Ver, two former Cabinet Ministers, and several top businessmen associated with the ousted regime. A Commission member, Mary Concepcion Bautista, said the commission would hold public hearings to determine if there was sufficient evidence or "probable cause” to warrant taking the accused to trial.
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Press, 18 April 1986, Page 6
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202Marcos charged with embezzling $5B Press, 18 April 1986, Page 6
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