The Daily Tribune News – Ombudsman wants Imelda convicted in 10 counts of graft

Reference:
Murcia, A. (2017, September 18). Ombudsman wants Imelda convicted in 10 counts of graft. The Daily Tribune – Without Fear or Favor. Retrieved September 12, 2017 from http://www.tribune.net.ph/nation/ombudsman-wants-imelda-convicted-in-10-counts-of-graft

Ombudsman wants Imelda convicted in 10 counts of graft
Written by Alvin Murcia Monday, 18 September 2017 00:00

Government prosecutors are seeking the conviction of former First Lady and now Ilocos Norte Rep. Imelda Marcos in connection with 10 counts of violation of Section 3 (h) of Republic Act 3019 or the Anti-Graft and Corrupt Practices Act.

The corruption charges stemmed from the alleged unlawful financial interests in private Swiss foundations and local business enterprises from 1968 to 1986 while holding various government posts.

The panel of prosecutors of the Ombudsman submitted a 28-page memorandum last August 29, citing evidence already admitted by the court against the accused without comment or opinion from Marcos lawyers.

The memorandum coincided with the statement of President Duterte that the Marcoses have offered to return unspecified assets to the Philippine government.

The former First Lady is accused of creating secret foundations and bank accounts in Switzerland and Liechtenstein together with her husband into which they allegedly funneled “ill-gotten wealth.”

During the incumbency of deceased President Ferdinand Marcos, she served as minister of Human Settlements from June 1976 to February 1986 (concurrently as Metro Manila governor) and as member of the Interim Batasang Pambansa representing Metro Manila from 1978 to 1984.

The cases were Criminal Case No. 17287 concerning the purchase of Maler Establishment from the Swiss Bank Corp in October 1968 which was later transformed into Maler Foundation; Criminal case No. 17288 about the creation of Trinidad Foundation in Liechtenstein in August 1970; Criminal case No. 17289 involving Rayby Foundation, created in Vaduz, Switzerland in June 1971; Criminal case No. 17290 — direct and indirect financial interest in Palmy Foundation, created in Vaduz, Switzerland in May 1981.

Criminal case No. 22867 pertaining to the Vibur Foundation (also named Azio and Verzo Foundations) with bank accounts in Schweizeresche Kreditanstalt or Credit Swiss Bank found to have deposits totaling $3,597,544 as of December 31, 1991; Criminal case No. 22868 regarding Aguamina Foundation (previously Rosalys Foundation) which was found to hold $80,566,483 as of August 30, 1991 at Schweizeresche Kreditanstalt; Criminal Case No. 22869 concerning Avertina Foundation (consolidation of two groups of foundations: Xandy-Wintrop Foundations; and Charis-Scolari-Valamo-Spinus Foundations) found to hold two separate accounts with deposits amounting to $231,366,894 and $8,647,190 as of December 31, 1989 in Schweizeresche Kreditanstalt.

Criminal Case No. 22870 involving management and administration of various establishments which Mrs. Marcos and her husband allegedly used in funneling ill-gotten wealth totaling $13,577,321.66 under Pretorien Establishment; $9,201,240.91 under Gladiator Establishment (previously Bullseye); $3,601,446.01 Cesar Establishment (formerly Gardenia); $1,811,426.61 under ESG Establishment all with Banque Paribas; Criminal Case No. 17291 alleging unlawful intervention in favor of Asian Reliablity Corp. Inc. (ARCI) to secure $25-million loan secured by a guarantee from state-owned Philippine Export and Foreign Loan Guarantee Corp. (Philguarantee); and Criminal case No. 19225 concerning unlawful interests in ARCI and Dynetics as part owner together with businessman Vicente Chuidian.

Former Solicitor General Francisco Chavez, former Central Bank Governor Jaime Laya, former Philguarantee chairman Cesar Virata, former Philguarantee president, and chief executive officer Victor Macalincag gave testimonies against Mrs. Marcos which were offered by the prosecution to the court.

According to the testimony of Chavez, for a span of 12 years from January 13, 2000 to July, 2012 documents were acquired from various Swiss banking institutions as part of the case build-up against Mrs. Marcos.

He died on September 11, 2013 shortly after he completed his testimony.

On the other hand, Laya claimed that on the 1983 investigations and findings of the International Monetary Fund, the Philippine government overstated its international reserves and concerning $200 million remitted by two Swiss banks to the Central Bank of the Philippines as subscription to dollar notes issued by the government.

Published in Nation | The Daily Tribune – Without Fear or Favor

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • Welcome to Legislative Library Service Online!

    Welcome! This is the current information service provided by the House of Representatives Legislative Library which started in the 15th Congress. This blog provides information about the Library, its collection, online clippings of national issues related to or about the House of Representatives, the different House Members, Philippine legislative history, legislation, bill drafting, laws, and other articles pertaining to Congress and to the creation of laws.
%d bloggers like this: