Manila to hunt on for Marcos money

Manila to hunt on for Marcos money

MANILA (AFP): The Philippine government will not let up its
chase against the estate of the Marcos family despite the
acquittal of former first lady Imelda Marcos, presidential
spokesman Fernando Barican said on Wednesday.

Imelda Marcos' acquittal on graft charges on Tuesday "does not
put to rest government's pursuit" of wealth allegedly stolen by
the Marcos family, Barican said.

The government has accused the Marcos family and their allies
of stealing billions from state coffers during the 20-year reign
of the late dictator Ferdinand Marcos and has been trying to
reclaim the funds.

This includes some US$570 million in Marcos funds originally
stashed in Swiss banks, but now being held in escrow at the
Philippine National Bank while awaiting a legal decision to
determine who really owns the money.