Swiss closes Marcos account

Sun, 08 Apr 2001 | Source: DPA

MANILA (DPA): Swiss justice authorities have debunked the existence of a US$13.4 billion savings account of deposed Philippine dictator Ferdinand Marcos, saying the account with the Union Bank of Switzerland (UBS) has been closed, according to a Philippine embassy report.

Philippine Ambassador to Switzerland Rosa Navarro Tolentino, in her March 21 report to the President Commission on Good Government (PCGG), said evidence of the alleged account, presented by Australian agent Reiner Jacobi were not authentic. The report was released by PCGG Officer-in-Charge Jorge Sarmiento Saturday.

The PCGG was created by former President Corazon Aquino to retrieve the alleged Marcos wealth stashed in various banks abroad. So far, the PCGG has recovered $600 million deposited in Swiss banks.

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