Swiss legal authorities said Friday they would indefinitely maintain a freeze on hundreds of millions of dollars held in Swiss bank accounts by the family of the late Philippine president Ferdinand Marcos.
Switzerland froze the accounts after Marcos was toppled in a popular revolt in 1986. Manila says Marcos funds in Swiss bank accounts could total $3.5 billion and has called for the return of the money, which it says was plundered from the country.The Swiss federal court had ruled that the freeze would expire by Dec. 21, 1991, unless Manila filed criminal charges against former first lady, Imelda Marcos.
But a statement from Zurich district prosecutor Peter Cosandey said the freeze would continue since Philippine Solicitor-General Francisco Chavez had brought six charges against Imelda Marcos Dec. 18.
He said around $300 million were held in the name of three trusts of the late Philippine leader and his widow at a Zurich branch of the bank Credit Suisse.
The decision also applied to Marcos money held in Geneva - where Manila says there are a further $80 million - and in the canton (province) of Fribourg.
Imelda Marcos, her husband's heirs and the three trusts in question have 20 days to appeal against the decision.