Anti-graft court freezes P36-M Marcos account at Veterans Bank
The Sandiganbayan has issued an order to freeze a bank account of Ilocos Norte Rep. Imelda Romualdez-Marcos with the Philippine Veterans Bank.
The anti-graft court's Fifth Division issued the garnishment order in view of the P36-million judgment cost imposed on her late husband, former strongman Ferdinand Marcos, for secretly transferring National Food Authority (NFA) funds to a private account in 1983.
The account ordered frozen was with PVB's Main Office Servicing Department Branch.
A Sandiganbayan ruling on September 9, 2010 ordered Mrs. Marcos to pay back the government P10 million for the NFA funds that were secretly siphoned off on July 27, 1983 by the late strongman.
President Marcos pocketed P10 million that was withdrawn on his personal orders from the NFA’s account at the Philippine National Bank, the anti-graft court ruling said.
Based on the Sandiganbayan's computation, the interest of the P10 million principal for 29 years stands at P34 million.
Mrs. Marcos was also ordered to pay 28 years worth of interest on the principal amount with additional penalties of P1 million in moral damages; P500,000 exemplary damages; P250,000 nominal damages; and P200,000 attorney’s fees.
The freeze order will be lifted once the full amount stated in the garnishment order is paid. — LBG, GMA News
The anti-graft court's Fifth Division issued the garnishment order in view of the P36-million judgment cost imposed on her late husband, former strongman Ferdinand Marcos, for secretly transferring National Food Authority (NFA) funds to a private account in 1983.
The account ordered frozen was with PVB's Main Office Servicing Department Branch.
A Sandiganbayan ruling on September 9, 2010 ordered Mrs. Marcos to pay back the government P10 million for the NFA funds that were secretly siphoned off on July 27, 1983 by the late strongman.
President Marcos pocketed P10 million that was withdrawn on his personal orders from the NFA’s account at the Philippine National Bank, the anti-graft court ruling said.
Based on the Sandiganbayan's computation, the interest of the P10 million principal for 29 years stands at P34 million.
Mrs. Marcos was also ordered to pay 28 years worth of interest on the principal amount with additional penalties of P1 million in moral damages; P500,000 exemplary damages; P250,000 nominal damages; and P200,000 attorney’s fees.
The freeze order will be lifted once the full amount stated in the garnishment order is paid. — LBG, GMA News
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