Switzerland has begun handing over millions of dollars held in Swiss banks by close aides and supporters of former Philippines strongman Ferdinand Marcos, justice authorities said Wednesday.

Switzerland has begun handing over millions of dollars held in Swiss banks by close aides and supporters of former Philippines strongman Ferdinand Marcos, justice authorities said Wednesday.

Zurich district prosecutor Dieter Jann said that $4.6 million deposited in a Swiss bank account by Benjamin Romualdez – a former Philippines ambassador to the United States – were transferred to an account of the national bank in the Philippines capital Manila.

Jann the transfer took place earlier this month, adding that another $23.5 million deposited by Marcos supporters in Swiss banks might follow within the next year. Those transfers would include about $7 million in an account owned by former Energy Minister Geronimo Velasco.

However, Jann rejected Philippines news reports which claimed that “Marcos cronies” had stashed away about $100 million worth of government funds in Swiss bank accounts. Jann said those reports were exaggerated.

Last year, Switzerland handed over all remaining personal assets held by the Marcos family in Swiss banks. Those assets totalled about $570 million.

Marcos, whose strongarm rule lasted for 20 years before he was ousted, died in exile in 1986, amid allegations from the new Philippines authorities that he had siphoned off millions of dollars in state funds and had hidden them in Swiss banks.


Sources: dpa, sda-ats

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