Crown Prince, Kuwaiti prime minister discuss strengthening bilateral ties in NEOM    911 emergency centers handle over 2.7 million calls in July    Civil Affairs proposes amendment to death reporting rules for resident expatriates    Commemorative stamp issued honoring Prince Khalid Al-Faisal    Saudi central bank submits new banking draft law to legislative authorities    Saudi report shows 97.7% of businesses have internet access, 57.7% use social media    Mohamed Yousuf Naghi Motors and alfanar partner to deliver seamless home EV charging solutions across Saudi Arabia Powering the future of mobility    Ministry launches Non-Profit Precious Metals and Gemstones Association to boost industry    Netanyahu asks Red Cross to help hostages in Gaza, as families warn against an 'expanding war'    Poland extends border controls with Germany, Lithuania until October 4 over migration concerns    New Zealand woman arrested after two-year-old found in luggage    Al Qadsiah sign Saudi starlet Musab Al Juwayr from Al Hilal    Salm Al-Dawsari returns to Al Hilal training after injury layoff    Pakistan monsoon death toll rises to 299, including 140 children    Saudi defender Saud Abdulhamid joins RC Lens on loan from AS Roma    Riyadh Comedy Festival tickets now on sale for world's biggest stand-up event    Sotheby's returns Buddha jewels to India after uproar    Riyadh Film Music Festival returns with live orchestral performances of iconic movie scores    Nissan Formula E Team celebrates a landmark season 11 with proud Saudi sponsor Electromin    Saudi Arabia approves first Alzheimer's treatment with lecanemab for early-stage patients    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    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.



Philippines still seeks $1b in Marcos wealth 30 years after his ouster
Published in The Saudi Gazette on 25 - 02 - 2016

The Philippines is still seeking to recover about $1 billion worth of assets accumulated by the late dictator Ferdinand Marcos through 100 court cases at home and overseas, a government official said on Wednesday.
"The task is not easy," said Richard Amurao, head of an agency created in 1986 to recover funds from Marcos. "The people holding these assets have been slowing us down. They have been using all sorts of delaying tactics to thwart our efforts."
Marcos, who ruled the Southeast Asian country for about two decades, fled to Hawaii 30 years ago this week after a near bloodless popular revolt. He died in exile three years later.
Efforts on Wednesday to contact his wife, Imelda, and son Ferdinand Junior, to seek a response to the comments were unsuccessful. Imelda has repeatedly said the family did not steal from the people and its wealth was acquired legally.
Amurao said that since the Presidential Commission on Good Government (PCGG) was created, it has recovered and given the treasury about $4 billion.
In line with Philippine law, funds have been used mostly for land reform. Based on a Hawaii court ruling, 10 billion pesos ($210.04 million) was used to compensate about 10,000 victims of human rights abuses.
The government hoped to raise $17.7 million from an auction of some confiscated Marcos jewelry, property and stocks, sources said this month.
By unofficial estimates, Marcos had $10 bil lion of assets.
"We don't really know if the $10-billion estimate is accurate but what we can tell you (about the $1 billion now sought) is based from estimates of the court cases and from what we already recovered," Amurao said.
More than half of the court cases are civil lawsuits to recover shares, real estate, cash and jewellery, he said. A quarter of the cases involve "behest loans" state-owned banks gave individuals with political connections to Marcos, he said.
Andres Bautista, a former PCGG chairman, said most of the cases under litigation are complicated and difficult because government prosecutors could no longer locate witnesses and find documentary evidence.
"Some of the key players are also back in power," Bautista said.
Members of Marcos's family remain active in politics. His wife Imelda is a congresswoman from Ilocos Norte, the political base of the family where her eldest daughter is governor.
Her only son, Ferdinand Junior, is a senator and running for vice president in the May election. In independent polls, he is tied with another senator who's the son of a former Marcos era minister. — Reuters


Clic here to read the story from its source.