Guide The Marcos Money

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He stole international aid money, gold from the Central Bank, loans from international banks and military aid. He seemed to have lost his bearings at the prospect of power and money. From the likes of it, Marcos raided the Philippine Treasury.

What happened to the Marcos fortune? - BBC News

Where else would he get the money? Carriage from Austria and horses from Morocco were ordered. One financial aide gave details of five Swiss bank accounts. Unfortunately, the Swiss bank refused to turn them over to the Philippine government but the PCGG was able to convince the court to freeze it.

Marcos family to return wealth, including gold bars, Philippine President Rodrigo Duterte claims

But they were not in the Palace. Papers found in various homes revealed that the Marcos family had bought at least valuable paintings.


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Where they are, nobody knows at present. What should be of interest to many is the story of a young civil servant named Chito Roque. There were signs of hasty departure: He opened a safe as the combination number was on the door. Inside, he found records of bank accounts in Switzerland and Canada, certificate of shares and some letters signed by Marcos. These papers are now with the PCGG. The report on how Marcos stole without any conscience did he have any at all? He went crazy as he kept busy amassing wealth.

THE PHILIPPINES IS THE RICHEST COUNTRY IN THE WORLD

What constitutes an unforgivable crime is that he decreed that impoverished coconut farmers must pay a levy purportedly to improve the industry. As he stole money right and left, Marcos faced the problem of how to handle all the money flowing into his coffers. He found a solution: He set up banks that would handle the money flowing in. He asked his cronies to buy private banks and control the state banks.

This way he could access more money and access foreign currency.

Why bongbong marcos a lot of money, the answer has shocked you

Indeed, Marcos was getting so wealthy by the day. And he was very clever making sure his wealth was safe. The PCGG gathered more information about how Marcos was handling the money he was stealing, as there was no stopping him. A former manager of the New York branch of the Philippine National Bank revealed that he created accounts for two fictitious companies to conceal the Marcos millions.

As to the paintings, they seemed to have ended in the hands of a Saudi arms dealer named Adnan Khashoggi. Khashoggi was arrested in Switzerland and extradited to New York to be indicted together with Marcos, Imelda and others under the antiracketeering law. Unfortunately, Marcos died in September before the trial began. Besides, the White House was putting pressure on the prosecutors to put on the brakes because of the embarrassment it would cause the five US presidents who turned a blind eye to what Marcos was doing during the martial law years.

So the Marcoses got away unscathed. Marcos knew how to win foreign government to his side. Some foreign governments ignored what Marcos was doing as they were getting contributions from the strongman. So why ask where the money came from? Marcos gave bribes to win approval. Some papers were blank. Some inventory pages were also blank, like transactions involving US organizations. Having so much power, Marcos did not brook any opposition. In , two union activists who campaigned against Marcos in Seattle were murdered.

A jury found out that the Marcoses were implicated. The money has not been paid. In Hawaii, a court found that Marcos was guilty of abusing the human rights of thousands who have been tortured and killed. Only less than 1 percent has been paid. She filed an appeal. Later, for some reason, the Supreme Court threw out her conviction on technical grounds. The work of the PCGG is not easy. For whatever motive, the Aquino administration ordered the PCGG to seize nothing but work through the courts.

Their work is hampered as the Marcoses have the money to hire the best lawyers. Same with the Japanese government, saying it was not going to reveal information. To do so would jeopardize its aid package.

What happened to the Marcos fortune?

Having gained the trust and confidence of Fr Diaz, the Tallano clan made him the main negotiator and trustee of their gold. The two richest men in the world were Fr. Jose Antonio Diaz and Atty. There are , metric tons of Gold declearedmissing in the International Court of Justice picked up by Yamshita from its European ally, Hitler.

The Tagean- Tallano gold started at , tons. Out of , tons, , tons were paid in commission, which should be leave , tons- but somehow hat number as become , tons , leaving another 48, tons unaccounted. Out of the remaining , tons we do not know how much remains. This would be backed up by the , metric tons of gold in Central Bank.

Would made the Maharlika money more valuable and stronger that the American dollar. This was his vision to raise Southeast Asia to be par with the rest of the first world countries. Under this program some sets of gold , documentation and related ABL currency were to be shipped to various countries around the world.

We assume this is because they have been working at ways to convert the GOLD for their own selfish gain, probably in conspiracy with the International Banking Cartel.