Filipino gov't to seize $29M from Marcos family account

Feb. 12, 2014 at 4:32 PM
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MANILA, Feb. 12 (UPI) -- The federal government in the Philippines will seize bank accounts belonging to former dictator Ferdinand Marcos worth up to $29 million, officials said.

The Swiss bank accounts contain some $23 million in ill-gotten funds plus interest belonging to the late dictator's family, an appeals court found. The Filipino government has the right to take back the cash, said Andres Bautista, the chairman of the nation's Presidential Commission on Good Government.

Marcos' son, Bongbong Marcos, now a senator, said his family has not been party to the ongoing lawsuit for years and he had no objection to the government seizing the accounts, GMA News said Wednesday.

Marcos' widow, Imelda, said she was consulting lawyers to determine whether she would take any legal action against the government.

Ferdinand Marcos ruled the Philippines as dictator from the time he declared martial law in 1972 until a revolution in 1986 toppled his regime.

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