Marcos kept gold in late Kim's name

Marcos kept gold in late Kim's name

SEOUL (AFP): The late Philippine dictator Ferdinand Marcos has
deposited multi-billion-dollar-worth gold bars at a Swiss bank in
the name of the late North Korean leader Kim Il-sung, a report
said Wednesday.

The secret bank account was opened at the Union Bank of
Switzerland (UBS), Seoul's Munhwa Ilbo newspaper quoted a former
Marcos aide as saying.

Munhwa, carrying a copy of the bank account certificate on the
front page, said Marcos had borrowed Kim Il-sung's name to
deposit 940 tons of pure gold bars worth US$8 billion at the UBS
on Sept. 11 in 1970.

Marcos died in 1989 three years after he stepped down to seek
asylum in Hawaii. North Korean founder Kim Il-sung died in 1994.

The Philippines have been seeking to retrieve Marcos' secret
ill-gotten wealth which was amassed during his 20-year rule.

"Former President Marcos had borrowed the names of dictators
from third countries to prevent others from withdrawing deposits
from his secret bank accounts," the unnamed former aide to Marcos
told Munhwa.