Switzerland has approved the transfer to the Philippines of nearly a half-billion dollars in Swiss bank accounts of the late Philippine President Ferdinand Marcos.
Zurich District Attorney Peter Cosandey said Monday that the decision, which is still subject to appeals, would put the money into an escrow account in the Philippines, pending court action there.The move was a major step in the 10-year battle between the Philippine government and the Marcos family for control of the money that the Philippines says Marcos plundered from the national treasury.
Victims of human rights abuses under Marcos, who died in exile in 1989, said the transfer could make it harder for them to collect compensation from the Marcos estate because the Philippine government claims the money.
Cosandey, the Swiss official in charge of the case, confirmed to The Associated Press that he had made the decision Aug. 21.
The Marcos family, which had fought to prevent the money from being transferred to Philippine government control, applauded the decision now that the money was moved to an escrow account.
"I'm happy if there is a decision to bring the so-called Marcos assets to the Philippines," said his widow, Imelda. "Because ever since the death of my late husband . . . I have been concerned in the implementation of his last will and testament to give his wealth to the Filipino people."
The Philippine government had said in April that it was negotiating a settlement to divide the money with the Marcos family. Lawyers later said the negotiations had broken down.