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Philippines still seeks Marcos's money

May 1, 2010 at 1:29 PM   |   Comments

MANILA, Philippines, May 1 (UPI) -- The head of the Philippine Presidential Commission on Good Government says he still hopes to recover some of the assets of former President Ferdinand Marcos.

Commissioner Ricardo Abcede, at a news conference Friday, said he had just met with Marcos's son-in-law, Greggy Aranete, the Philippine Daily Inquirer reported. He did not give details but said the discussion involved more than $3 million in assets now at issue in more than 500 civil lawsuits.

Marcos was driven into exile in 1986 after more than 20 years as president and died three years later. His wife, Imelda, who became notorious for her extravagance when she was reported to own 2,500 pairs of shoes, is still alive.

Abcede said he is confident some of Marcos's assets can be recovered. But he said any settlement would not include some of the provisions in a failed 1993 deal, which included granting Imelda Marcos immunity from prosecution and giving the family a tax exemption.

© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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