Stole up to $10 billion from the Philippines.Most people love getting freebies. In the case of this list, you get two corrupt Filipino dictators for the price of one. Arguably, Marcos was worse than the fellow who came later, Joseph Estrada, for a couple of reasons. He had his own cult of personality, and he used it to strong-arm the country into doing whatever he wanted.
As ruler of the Philippines for 14 years, he went with a patronage style of running the show. His cronies came on board, he awarded them big bonuses and posts of authority, which would, in time, further augment his family’s own wealth. He created monopolies in tobacco, banana, coconut, sugar and manufacturing industries, to which he tied the fellow Romauldez family.
Just how rich were the Marcoses? No one really knows how many billions of dollars that the First Family and their stooges raked in, but it certainly hangs in the billions. Swiss banks have turned in $85 million since Marcos stepped down in 1986, but more is still unaccounted for.
And who could forget Imelda Marcos? Wealth breeds extravagance, but she went over the top. She had white sand from an Australian beach flown in for a resort. She also bought various properties around Manhattan, though she ‘declined to buy the Empire State Building for $750 mil’ because it seemed “too ostentatious.”
When criticized for her manner of buying everything in sight, she claimed that she was a beacon of light to which the poor could aspire. As though the poor have as little integrity as she did, and would aspire to hedonism. From BusinessPundit
Malice in Wonderland: The Imelda Marcos StoryBY VIVIENNE KHOO
The Asia Mag
It is a testament to her residual power that Imelda Marcos was able to get a court order to prevent a damning film about her to be shown in the Philippines. What other widow of a reviled dictator could get her way in the country that she pillaged?
Consider the facts. She was found guilty of corruption and sentenced to a minimum of 12 years in prison in 1993.
The Philippine Supreme Court overturned the conviction.
The Marcos estate lost a class action lawsuit for human rights violations. A US Federal District Court awarded the plaintiffs $2 billion. The money has yet to be paid.
In 2003, the Philippine Supreme Court upheld a lower court ruling that found Imelda Marcos guilty of funneling $659 million to private Swiss bank accounts and awarded the entire amount to the Philippine government.
Over 150 other court cases are currently pending.
And in an ironic perversion of justice, Imelda Marcos receives a monthly pension of $90 from the Philippine government as a widow of a war veteran.
Imelda insists she did not give her permission for a film about her rise from beauty queen to Philippine First Lady.
“We have to stick to the truth because truth is God,” she said. “Many things were lifted out of context and insertions there were quite, sometimes malicious.”
She said she co-operated with the film because she thought it was for a thesis. Reportedly director Ramona Diaz was given 15 minutes. This stretched to five hours of the former First Lady speaking non-stop and playing video after video of media coverage of the Marcoses.
In the movie we are shown a mythology that Imelda has carefully cultivated. In the opening sequence she presents her world view in an engaging way. Still coquettish in her mid-70s, she leafs through a book she has written called "Circles of Life". The method in her madness breaks down later in the film when she illustrates with a marker pen her philosophy complete with apples, hearts and a Pac-Man. A Jesuit priest recounts how she presented the same to him non-stop for four hours. Bernice Ocampo, her niece, laments that Imelda’s downfall was brought about by flatterers, not true friends.
Imelda’s hubris knows no bounds. In her hometown of Tacloban, she has made a shrine to herself and Jesus Christ. The chapel on the first floor is lined with dioramas of her rise from being a little girl playing in the sand to becoming a heroine of her people helping the downtrodden. Upstairs visitors are shown her ornate bedroom which has walls completely covered in woven leather strips.
Her childhood friend Lettie Loksin is filmed saying that when she first met Imelda she thought she looked like the Virgin Mary — long-haired and beautiful. Another childhood friend recalls, “Imelda’s dresses were made of parachutes and bedsheets during the war. She did not mind as long as she had a new dress.”
We get Imelda’s spin on her own vanity when she boasts that as First Lady she took an hour to dress for kings and queens but she would take “double the time” if she was going to the provinces because the people needed “a standard, a star…especially in the dark of the night”.
In 1954, Imelda, met then-congressman Ferdinand Marcos in the cafeteria of the Philippine Congress and married him 11 days later. Ferdinand ran for president in 1964 and won by presenting himself and his wife as the John F Kennedys of Asia — young, fresh talent that was going to help the country advance. With the support of the US government, the Marcos’ hunger for power increased and in 1972, Ferdinand declared martial law.
This was, according to Imelda, for the good of the people. In the movie she describes the imposition of martial law in these words: “[The President] informed the family…. He called the little children together and he said the time has come [and] that what he had to offer for the survival of the country was more than life, it was honour…. because he was so democratically committed.” This is when most movie audiences laugh out loud.
Imee's Hidden WealthFrom ICIJ
Records show late dictator's oldest child, now a Philippine provincial governor, didn't disclose British Virgin Islands trust in asset declarations required for public officials.
Newly uncovered documents link Maria Imelda Marcos Manotoc, the eldest child of the late Philippine dictator Ferdinand Marcos and now a senior political figure in her own right, to two secretive offshore trusts and an offshore company.
The hardworking and popular provincial governor — widely known as Imee Marcos — was one of the beneficiaries of the Sintra Trust, which was formed in June 2002 in the British Virgin Islands, financial records uncovered by the International Consortium of Investigative Journalists (ICIJ) show. Other beneficiaries were Imee Marcos’ adult sons with estranged husband Tomas Manotoc: Ferdinand Richard Michael Marcos Manotoc, Matthew Joseph Marcos Manotoc, and Fernando Martin Marcos Manotoc.
It’s unclear whether the trust remains active. The records obtained by ICIJ show the trust was still active at least as recently as 2010.
The documents show that Imee Marcos was also a financial advisor for the Sintra Trust as well as for a company in which the Sintra Trust was a shareholder, ComCentre Corporation, which was formed in January 2002 in the BVI and is still in operation. The records also show she was a “master client” for the M Trust, formed July 1997 in Labuan, Malaysia, and closed July 2009. Philippines law requires government officials to disclose their assets no matter where they’re held, and Imee Marcos’s disclosure statements do not list the three offshore entities. It is not known what assets they hold, but one Sintra Trust document refers to a bank account with United Overseas Bank Limited, a financial institution headquartered in Singapore. Another record related to ComCentre refers to an account at HSBC.
Bongbong Marcos : Oxford/
MBA Wharton Graduate?From Inquirer
MANILA, Philippines—Senator Ferdinand “Bongbong” Marcos Jr. maintained on Tuesday that he attended Oxford University in the United Kingdom and the Wharton School in the University of Pennsylvania in the US.
In a statement, he stood by the accuracy of the educational record posted on his page at the Senate website and his official website.
“To set the record straight, my educational record as posted in the Senate website and in my own official website is accurate,” Marcos said.
“I earned a diploma in political science at St Edmund Hall, Oxford University in England in 1978.”
He clarified that he was not able to complete his Masters in Business Administration course at Wharton because he was elected Ilocos Norte vice governor in 1980.
“I thereafter did post-graduate studies at the Wharton Business School, University of Pennsylvania, USA taking up Masters in Business Administration. I was however unable to complete the course because I was elected Vice Governor of Ilocos Norte and had to return home to serve my province mates (1980-1983),” he added.
The statement was issued after an article written by Marites Vitug alleged that he did not graduate from Oxford University and Wharton School.
In the article published on Rappler, Vitug said that Marcos’ claims of being a graduate of the said schools turned out to be “false.”
“Our fact-checking shows, however, that Marcos Jr’s claims are false. Oxford University and Wharton School records do not show any Ferdinand Marcos Jr [on] their lists of graduates,” Vitug said.
The report cited school records, interviews with officials from the said schools, and an online database search to bolster its claim