Marcos denies family’s ill-gotten wealth anew, accuses critics of 'propaganda'People wave flags as Philippines' President Ferdinand Marcos Jr delivers a speech to members of the local Filipino community during an event on the sidelines of the Australia-ASEAN (Association of Southeast Asian Nations) summit in Melbourne on March 4, 2024. MANILA, Philippines — President Ferdinand Marcos Jr. has again denied his father’s plunder of billions of public funds during his two-decade rule, calling as “propaganda” the campaign for the Marcos family to return their ill-gotten wealth to the government. Estimates of the amount the Marcoses reportedly amassed in the last few years of Marcos Sr. presidency range from US$5 billion to $13 billion. This sizeable loot far exceeds the yearly salary that Marcos Sr. was earning as president, which was about $4,700 or P100,000. In 2003, the Supreme Court ordered the forfeiture of $658 million worth of frozen Swiss bank deposits belonging to Marcos Sr.

Source: Philippine Star March 05, 2024 16:04 UTC