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Aquino Moves to Palace, Freezes Marcos Accounts

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From Times Wire Services

President Corazon Aquino today moved her offices to the presidential palace abandoned by Ferdinand E. Marcos, and an official said the new government has frozen the bank accounts of more than a dozen Marcos cronies.

Aquino called her first Cabinet meeting at a guest house across from the main Malacanang Palace complex, which is being repaired because mobs stormed it Feb. 25 after Marcos fled the capital.

The official, who spoke on condition of anonymity, is on the Commission for Good Government, charged with recovering billions of dollars in assets allegedly plundered by Marcos and his associates during the 20 years the former president was in power.

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$50 Million Frozen

About $50 million is in the frozen accounts, said the official, who refused to identify their owners. Some belong to former members of the Marcos government, the official said.

No action has been taken against corporations identified with Marcos’ associates, but the commission is watching one that sent money to Hong Kong by plane periodically during the Marcos years, the commission member said.

According to the official, a year may be needed to determine how much money Marcos and his associates took out of the country. Jovito Salonga, chairman of the commission charged with recovering Marcos’ wealth, has estimated the total at up to $10 billion.

The government television station, meanwhile, quoted Gen. Fidel V. Ramos, the armed forces commander, as saying four generals loyal to Marcos were under house arrest. The official Philippine News Agency quoted Defense Minister Juan Ponce Enrile as saying three others--former commanders of the air force, navy and army dismissed by Aquino--also were under arrest.

New Duties

Fourteen other generals have been given new duties at headquarters in Manila so Gen. Ramos can keep an eye on them, the television reported.

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