The Sandiganbayan orders the turnover to government of $42M in the so-called 'Arelma' account of the late dictator Ferdinand Marcos.
The anti-graft court's special division issued a two-page writ of execution on August 18, directing the transfer of the money from the Philippine National Bank to the Bureau of Treasury.
The funds represent Marcos assets, originally amounting to $2M, deposited with Merrill Lynch Securities in New York in 1972 in the name of Arelma Foundation.
The order was based on a Supreme Court ruling dated March 12, 2014. That ruling denied with finality, separate appeals filed by former first lady and now Ilocos Norte Representative Imelda Marcos and Senator Ferdinand Marcos, Jr.
Meanwhile, the full recovery of the so-called Malacañang jewelry collection remains pending.
Origin:
https://anc.yahoo.com/news/sandiganbayan-orders-turnover-of-...