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Philippine court dismisses case seeking $3.9 billion of Marcos wealth
Source: Reuters
WORLD NEWS DECEMBER 16, 2019 / 5:14 AM / UPDATED 6 HOURS AGO
Philippine court dismisses case seeking $3.9 billion of Marcos wealth
MANILA (Reuters) - A Philippine court threw out a high-profile, 32-year-old forfeiture case on Monday involving the family of late dictator Ferdinand Marcos, citing insufficient evidence to order the return of $3.9 billion of allegedly ill-gotten wealth.
The country’s anti-graft court decided in favor of the Marcoses for the fourth time since August, with judges ruling that photocopied documents could not be used as evidence, so the case would not proceed.
It has been referred to widely as the “mother” of cases in a three-decade effort by a special presidential panel to recover an estimated $10 billion allegedly siphoned off by Marcos and a family that had lived lavishly during his 20 years in power, 14 of which were ruled under martial law.
The case lodged by the Presidential Commission on Good Government had sought the return of 200 billion pesos ($3.93 billion) it said was tied up in equities, numerous local and foreign banks and real estate at home and in the United States and United Kingdom.
-snip-
Philippine court dismisses case seeking $3.9 billion of Marcos wealth
MANILA (Reuters) - A Philippine court threw out a high-profile, 32-year-old forfeiture case on Monday involving the family of late dictator Ferdinand Marcos, citing insufficient evidence to order the return of $3.9 billion of allegedly ill-gotten wealth.
The country’s anti-graft court decided in favor of the Marcoses for the fourth time since August, with judges ruling that photocopied documents could not be used as evidence, so the case would not proceed.
It has been referred to widely as the “mother” of cases in a three-decade effort by a special presidential panel to recover an estimated $10 billion allegedly siphoned off by Marcos and a family that had lived lavishly during his 20 years in power, 14 of which were ruled under martial law.
The case lodged by the Presidential Commission on Good Government had sought the return of 200 billion pesos ($3.93 billion) it said was tied up in equities, numerous local and foreign banks and real estate at home and in the United States and United Kingdom.
-snip-
Read more: https://www.reuters.com/article/us-philippines-politics-marcos/philippine-court-dismisses-case-seeking-3-9-billion-of-marcos-wealth-idUSKBN1YK0TM
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