Court Orders Freeze on Ex-President’s Assets
A Philippine court ordered a freeze on all assets of ousted President Joseph Estrada and his co-defendants in a $76-million corruption case.
The court also ordered a freeze on assets of Jose Velarde, a name prosecutors say Estrada used as an alias to hide millions of dollars in bribes, as well as two houses owned by Estrada’s co-defendants, Charlie “Atong” Ang and Yolanda Ricaforte. Ang, who lives in Nevada, has been fighting extradition efforts by the Philippines.
Estrada, forced to step down in January 2001, is accused of illegally acquiring funds and properties while president. He has denied wrongdoing.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
