Swiss bank 'knew' of Marcos funds

Fri, 20 Aug 1999 | Source: AP

MANILA (AP): A German journalist told a Philippine Senate committee on Thursday that the Union Bank of Switzerland admitted holding an account of the late dictator Ferdinand Marcos.

Peter Muller of Stern TV said UBS spokeswoman Gertrud Erismann-Peyer said in an interview in 1991 that Marcos had a "few million" dollars in an account with her bank.

The Senate Blue Ribbon Committee is conducting hearings into claims by former Philippine solicitor general Frank Chavez that UBS is holding $13.4 billion in an account in the name of Marcos' youngest daughter.

Chavez told the committee last week that UBS officials had denied ever having any Marcos deposits and that Erismann-Peyer's statement showed they were not telling the truth.

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