FromOurArchives: When Imelda Marcos was convicted of 7 counts of graft in 2018, the Sandiganbayan also revealed that the beneficiaries of the illegal Swiss foundations were the Marcos children, including Sen Imee Marcos and former senator Bongbong Marcos.
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MANILA, Philippines – Sandiganbayan records show that former senator Ferdinand “Bongbong” Jr and sister Ilocos Norte Governor Imee Marcos were beneficiaries of the Swiss foundations earlier found by the anti-graft court as illegally created and maintained.
The Sandiganbayan's 5th Divisionconvicted former First Lady Imelda Marcos of 7 counts of graftfor creating and maintaining 7 private foundations in Switzerland while holding government positions from 1968 to 1986. The court found that the foundations were used to earn from investments and interests to benefit Imelda, the late strongman Ferdinand Marcos, and their beneficaries.
All 3 Marcos children – Bongbong, Imee, and Irene – were specifically named as beneficiaries of the Trinidad Foundation and the Xandy Foundation.“In the regulations of Trinidad Foundation dated August 28, 1970 signed by both Markus Geel and Ms Marcos in Zurich, Ms Marcos was named as the first beneficiary during her lifetime while her children, Imelda (Imee), Ferdinand Jr (Bongbong) and Irene were named as second beneficiaries in equal shares,” the Sandiganbayan said. headtopics.com
In the case of the Xandy Foundation, the court said Imelda and Ferdinand wrote by hand that"the said spouses were named as the first beneficiaries, the surviving spouse as the second beneficiary, and the Marcos children as the third beneficiaries.”
In some of the foundations, only Imelda and Ferdinand were the beneficiaries; in the rest, Imelda was the sole beneficiary. Lead prosecutor Rey Quilala said that the Marcoses earned an estimated $200 million, or P10.6 billion in the foreign exchange rate as of posting.
Closing accounts and transferring assetsThe court found that the Marcos couple employed the scheme of closing foundations then opening them under different names, with the assets just transferred to the new foundations.For example, the couple dissolved the Vibur Foundation on March 18, 1986, and then opened in 1989 a securities account for the said foundation. Ferdinand Marcos was named as beneficial owner of the account with number 467857-5.
However, “the ‘Classification note: Confidential’ signed by G. Raber on behalf of the Vibur Foundation, dated September 30, 1988, reference to said account no. 467857-5 named Marcos family as the owner.”“Though named as a foundation, the evidence shows that these entities were put up primarily for the entrepreneurial activity of opening bank accounts and deposits, transferring funds, earning interests and even profit from investment, for the private benefit of the Marcos family as beneficiaries,” said the Sandiganbayan’s decision penned by by Associate Justice Maryann Corpus-Mañalac, with concurrences from Associate Justices Rafael Lagos and Maria Theresa Mendoza-Arcega. headtopics.com
Bongbong is protesting his defeat in the 2016 vice presidential race before the Supreme Court, while Imee is running in the 2019 senatorial elections. Graft convict Imelda, who faces a sentence of 6 years and one month to 11 years in prison for each of the 7 counts,
is, the current position of eldest child Imee.The Philippine justice systemthe court ruling, enjoy provisional liberty, and even run for office until the guilty verdict becomes final and excutory.Integrity of the documentsThe Philippine government obtained the documents from both local and foreign sources, as well as from a sweep of Malacañang when the Marcos family was foced to flee the Palace and go into exile following the EDSA People Power Revolution in 1986.
“The validity of the documents, presented and offered in evidence by the prosecution, passed the scrutiny of the court,” the Sandiganbayan said.The court gave a lot of weight to the fact that some of the documents were obtained directly from the Swiss banks by former Zurich prosecutor Peter Cosandey.
“Full faith and credit must be given on these documents as they were officially transmitted in pursuance of the Decision rendered by Peter Cosandey dated December 6, 1989, and affirmed by the Swiss Federal Supreme Court in its decision dated December 21, 1990,” the Sandiganbayan said. headtopics.com
Thelate Solicitor General Frank Chavezwas key to this litigation, standing as witness to corroborate the documents from Switzerland and Cosandey.“The flow chart identified and marked by Chavez as Exhibit EE graphically demonstrates the creation, collapse, and merging of these foundations towards the design of the Marcos couple to hide their true ownership of these accounts,” said the Sandiganbayan.
Imelda was separately charged at the Manila Regional Trial Court (RTC) for illegally stashing foreign currencies in Swiss accounts in violation of Central Bank laws, but the court acquitted her of 32 counts of dollar salting in 2008.The judge in that case,
Judge Silvino Pampilo Jr, considered the Swiss documents as hearsay because Cosandey did not testify, only Chavez. This acquittalwas upheld by the Supreme Court Third Divisionin June this year.Cosandey also didn’t testify before the Sandiganbayan, but the justices of the anti-graft court nevertheless gave merit to the documents for “
having been authenticated in accordance with Swiss-established legal procedure.”In the words of the ponente, JusticeMañalac, “It should be emphasized likewise that since public interest, public policy and the nation’s history are deeply rooted in these cases, substantial justices demands that the documents identified by the witnesses, who testified based on record, be considered, unbridled by technicalities.” –Read more: Rappler »
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When Imelda Marcos was questionably convicted the judge based his decision on mere false equivalence. They keep claiming that there's graft just because the Marcoses have unexplained wealth. InnocentImelda andy_crush Yehey!!! Rappler ang ganda ng article nu...pwe!!! ang dami kong tawa.😂 Ito ha? Isng grupo ng kabataan naguusap. Sbi nila ibboto nla si marcos Kc wla na silang paki at di na sla nanniwala sa media. Kng si PRRD nga laging ginawan ng fake news dun daw sila namulat! Kaya ayan tuloy RAPPLER kyo Kc sa kagagawan nyo. 😂😂😂
Sa pinas.. walang conviction sa maunlad na bansa merong conviction Ano ang meron (politiko..) at kulang (batas..)? Is 'maunlad' the key word? Crappler.....Never again! IMELDA MARCOS convicted of a crime and still FREE.. DE LIMA has been in jail for 5 yrs without any conviction... ONLY IN THE PHILIPPINES
100% Marcos.. Hala ka pinaghirapan niya yung mga gintong yun. Di mo knows na abogado siya ng mga gold miner? At di niyo ba alam na sobrang yaman talaga ng Pilipinas (should be Ophir)? Alamin niyo ang history bago pa dumating ang mga Kastila. At manood kayo ng the God Culture. Matutulog nlng. Wala ng itinama na balita patungkol sa mga marcos.
And yet they were elected as Public Servants. Whom do we blame after all that the family did to the Philippines? The Marcos family or the the Voters? Hope the COMELEC would validate education credentials of candidates. We can't have fakes in office...
Bongbong Marcos endorsed as presidential betTHE Partido Federal ng Pilipinas (PFP) has officially endorsed former senator Ferdinand 'Bongbong' Marcos Jr. as its presidential candidate in the 2022 elections.The party passed a... He's a son of a dictator. He's a dropout of oxford university. His family is globally known as theives. He also attempted to circumvent Cambridge Analytica but failed. I'm an Ilocano but I'm wise and I use my common sense, not just for the sake of populist. bakit hindi niyo rin ihighight ultimate reason ng Martial Law? iplay mo voice record ni FEM na ayaw niya masaktan ang mga Pilipino since he has been protecting them for a long time? bakit until now binibrainwash ninyo mga Pilipino age of information na ngayon. Sa History books hindi niyo hinighlight mga projects na pinatupad ni FEM. ininterview niyo ba yung mga matatanda na buhay po nung leadership ni FEM? kung pangit pamumuno ng mga Marcos bakit naging tawag sa Phils. noonay RISINGTIGEROFASIA
wawaywiwish Wala ng konsensya tong mga to! Hay! Kadiri mga marcos 🤮 eh bakit hindi nakulong 😂 puro kasi kupal balita nitong rappler 🖕🖕 This kind of information is the facts that should be part of history classes. Ano oag mayaman pwede pang tumakbong opisyal ng bansa tapos ibobot pa ng mga inutil? pero pag mahirap bugbog sa taong bayan?
Ang kapal ng mukha nitong dalawang ito! Ang tanga rin naman ng mga bumoto sa kanila. Sagad talaga sa kawa langhiyaan itong mag asawang Marcos gusto nila masigurado ang magandang futures ng mga anak kaya lahat ng pag nanakaw ginawa. Ginawa rin tangan mga taong bayan. Akala nila d lalabas ang lahat ng baho nila. Nag pasasa mga anak sa nakaw
Mga pinalaki sa nakaw na yaman…… tapos gusto nyong gawing Presidente? Aba’y may sayad na talaga kayo.
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Academicians say education must correct Marcos, martial law myths and disinformationSome scholars from the University of the Philippines said the spread of disinformation to bury the ugly truth about the dictator former President Ferdinand Marcos and the martial law era must be corrected through reforms in the education system. Wow, that pic of FM. He was so sick and his Ministry of Information kept lying to the public. I remember the O2 tanks in his bedroom and the hemodialysis machine in the Malacanan clinic. Those who want to bury the truth are the same ones who give their consent to corruption and bad governance.
[ANALYSIS] Marcos and Duterte’s economic crises: How do they compare?'Sure, the circumstances surrounding the Marcosian recession and today’s recession could not be more different. But both are threaded by two things: extremely bad governance and bad luck.' ThoughtLeaders wag mo na icompare at ipilit. kaya pa ba? hahhaha. kakatawa ang fakerappler. pilit na pilit amp Huwag kasing mumurahin ang Maykapal, para bawas bad luck...eh pati Maykapal hindi pinalagpas eh...sira ulo pala
BY THE NUMBERS: Human rights violations during Marcos' ruleAt least 9,000 victims of human rights violations were monitored by the Task Force Detainees of the Philippines from 1969 to 1986.
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