Marcos Funds’ Transfer Put Off
Lawyers say the transfer to the Philippines of hundreds of millions of dollars in assets belonging to the late dictator Ferdinand Marcos will be delayed by several months.
The transfer was postponed after an appeal to Switzerland’s highest court by Marcos family foundations, lawyers in the case said Friday on condition of anonymity.
The Philippine government says Marcos embezzled billions of dollars from the national treasury before he was ousted in 1986, and it claims $540 million frozen in Swiss bank accounts.
Swiss officials had said they would hand over the money this spring.
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