Philippines set to quit Marcos wealth chase
- Published: 1 Jan 2013 at 11.46
- Online news: Asia
The Philippines is to wind down a near-30-year hunt for the embezzled wealth of late dictator Ferdinand Marcos, with more than half the supposed $10 billion fortune still missing, the man in charge of the search said.
Andres Bautista, head of the Presidential Commission on Good Government, tasked with recovering embezzled wealth from the late dictator Ferdinand Marcos, pictured in Manila, on December 3, 2012. The Philippines is to wind down a near-30-year hunt for the embezzled wealth of late dictator Ferdinand Marcos, with more than half the supposed $10 billion fortune still missing, according to Bautista.
With Marcos' widow and children back in positions of political power, and the government tightening its belt, the cost of the pursuit has become prohibitive, said Andres Bautista, head of the Presidential Commission on Good Government.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
