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Napoles was Used in Stealing Marcos’s Swiss Account Deposits for Agriculture


By: Elena Grace Flores

Katipunan ng Demokratikong Pilipino

[VIDEO]:Where is the money? | The Rita Gadi Hour

PCGG Sequestered Some Agriculture Funds from Marcos’s Swiss Account Deposits

The late President Ferdinand Marcos already had some Swiss account deposits before he became President. This wealth came from his fees as a lawyer of a royal family. His widow, Imelda Marcos won the trial of the century with 95 witnesses and 350,000 documents. Not a single entity shows that Marcos stole the money. Instead, it’s known that it was him who bought the prime properties in New York for the Philippines.

Union Square, San Francisco in the US

The Philippine Center in San Francisco is composed of two adjoining buildings located on Sutter Street, a block away from prestigious Union Square and within a mile of San Francisco’s financial district. A portion of it serves as a cultural venue for the country and embassy. Ex-President Ferdinand Marcos bought this using some of the Swiss account deposits. But the Aquinos sold this at a bargain. Saying that it’s Marcos’s ill-gotten wealth. However, it was named under the Philippine Foundation. So, it was taken illegally. The question is, where did the money go?

Where is the Money?

Lim-Napoles is a Filipina businesswoman who is believed to have masterminded the Priority Development Assistance Fund (PDAF) Scam. She said that it was then budget secretary, Florencio “Butch” Barsana Abad who taught her how to channel the Swiss account funds to bogus agricultural beneficiaries. So, who benefits from the people’s money for agriculture?

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