Legal

Former Philippines First Lady's Acquittal Over Offshore Accounts Is Upheld

Editorial Staff 25 September 2018

Former Philippines First Lady's Acquittal Over Offshore Accounts Is Upheld

Imelda Marcos, along with two other persons, had been accused of stashing illicit funds in Swiss bank accounts.

The Supreme Court of the Philippines has upheld the acquittal of former First Lady Imelda Marcos in a case of hiding illicit funds in a Swiss account, saying there was insufficient evidence to show that the judge handling the case was prejudiced, media reports said.

The court’s Third Division, in a ruling penned by Associate Justice Marvic Leonen, denied the late Solicitor General Frank Chavez’s plea questioning Manila Judge Silvino Pampilo’s refusal to inhibit from the case, according to philstar.com. The report highlights how the saga of Mrs Marcos’s financial affairs continues to fascinate years after she and her late husband Ferdinand fell from power.

The report said the court also was harsh about the prosecution’s handling of the case.

Marcos, along with Roberto Benedicto – who has died – and Hector Rivera were accused of unlawfully opening 11 dollar accounts in Switzerland under the names of 10 foundations linked to the Marcos family to hide alleged ill-gotten wealth. The money has been frozen by the government and is being held in escrow at the Philippine National Bank, the report added.

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