Officials from a government watchdog believes that millions of dollars stolen by the late ousted Philippine dictator Ferdinand Marcos are likely still concealed in bank accounts abroad, said Monday.
However they cautioned that the political rebirth of the Marcos family may block efforts to regain more of the money supposedly robbed from state coffers during his two decades in power.
"Our Swiss and American lawyers are of the opinion that there are still a lot of accounts deposited in many countries," said Jaime Bautista, a member of the Presidential Commission on Good Government (PCGG), a special commission tasked with recovering the Marcos wealth.
Bautista told reporters that the commission had to focus more to tracing these accounts, warning that the deposits might be declared dormant and forfeited more than two decades after Marcos was toppled in 1986.
Conflicts between the government and the Marcoses and their allies over about P200 billion ($4.3 billion) are still tied up in court cases that have dragged on for years.