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.