Wednesday, November 10, 1999

Manila renews efforts
on Marcos wealth

Associated Press


MANILA -- The Philippine government will try to recover the wealth accumulated by the late dictator Ferdinand Marcos from more countries where it may be hidden, the panel in charge of recovering the assets said today.

The Presidential Commission on Good Government previously focused on locating Marcos wealth in Switzerland and the United States, but commission members have said they believe the wealth was stashed in 12 other countries.

The commission said in a statement that it hired lawyers in Liechtenstein to ask for assistance from courts there. It is also seeking assistance from Hong Kong's Justice Department.

Marcos was ousted in a popular revolt in 1986, and died in exile in Hawaii three years later. Succeeding governments have accused him of illegally amassing billions of dollars during his 20-year rule.

A report prepared by former commission chairman David Castro said Marcos is believed to have kept billions of dollars in Hong Kong, Singapore, Japan, Germany, Britain, the Cayman Islands, Morocco and Libya.

Former commission member Ceasar Parlade said research indicates Marcos also had assets in Liechtenstein, Austria, the Channel Islands and Panama.

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