Swiss Release Data on Millions Held in Marcos’ Accounts
Switzerland on Friday handed over to Philippine authorities the first bank documents on hundreds of millions of dollars worth of allegedly ill-gotten wealth stashed in Swiss banks by the late President Ferdinand E. Marcos and his associates.
Release of the records pertaining to about $380 million reportedly held by Marcos and friends represented a breakthrough in the Manila government’s five-year attempt to recover the funds. It was the first time that Switzerland granted the Philippines official judicial assistance in the case.
The documents are likely to figure in any Philippine criminal proceedings against the Marcos associates. President Corazon Aquino’s government hopes also to gain clues as to the whereabouts of other funds allegedly diverted by Marcos during his 20-year rule.
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