DOCUMENT: Full decision convicting Imelda Marcos over illegal Swiss foundations
MANILA, Philippines – The Sandiganbayan 5th Division decided the graft charges against former first lady Imelda Marcos after 26 years, and convicted her for 7 counts of graft for illegally creating and maintaining private foundations in Switzerland during the entire rule of her husband, the late dictator Ferdinand Marcos.
The verdict shows the scheme that Imelda and Ferdinand used to earn interest and investments for the "private benefit" of their family. They earned at least US$200 million or P10.6 billion from their "entrepreneurial activity."
Ilocos Norte Governor and senatorial candidate Imee Marcos, as well as former senator Ferdinand "Bongbong" Marcos Jr were specified as beneficiaries of the foundation.
In the 3 counts where Imelda was acquitted, it was Ferdinand who was found by the Court to have committed graft.
“A review of evidence points not to Ms Marcos, but to her husband Mr Marcos, who personally participated in the management, control and direction of the affairs of ARCI [Asian Reliability Company Inc]. Criminal responsibility being personal to the perpetrator thereof, the same cannot be attributed by implication to Ms Marcos,” the decision said.
The 5th Division gave weight to the documents seized from the Palace when the Marcoses fled to Hawaii in 1986, as well as bank records obtained through the Swiss legal system.
Read the decision in full:
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