MANILA, Philippines More than $29 million from the Swiss bank accounts of late dictator Ferdinand Marcos have been turned over to the Philippine treasury after decades of litigation, a government agency said Wednesday.
The money, which forms part of $717 million found hidden in Swiss bank accounts, was transferred to the Bureau of Treasury last week, according to Andres Bautista, chairman of the Presidential Commission on Good Government.
"The recovered amount forms part of the Swiss bank accounts of former president Ferdinand Marcos and his family that were ordered forfeited by the Philippine Supreme Court in 2003, but which were held up in litigation in Singapore since then," he said.
The funds were held up in Singapore after victims of torture, illegal detention and other human rights abuses during Marcos' rule filed an unsuccessful claim against the money.
Bautista said the commission had already recovered more than $4 billion of ill-gotten wealth from the Marcoses and others since the commission was first formed 28 years ago.
The Marcoses and their associates were estimated to have amassed between $5 billion and $10 billion in illegal wealth during the dictator's 20-year rule.
Ferdinand Marcos was toppled in a popular revolt in February 1986. He died in exile in Hawaii three year later, but his wife and children were able to return to the Philippines in 1991 and have since been elected to government positions.
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