"Operation Big Bird" (Filipino: Oplan Big Bird) was the attempt of the Philippine Government during the presidency of Corazon Aquino to recover the alleged US$7.5 billion of hidden accounts and assets of President Ferdinand Marcos and his family in the Swiss banks.[1][2] Conceived by Philippine banker Michael de Guzman, it commenced shortly after Marcos was forced into asylum in the United States.[3] Initially, Operation Big Bird did not recover any money with two differing reports by Representative Victorio Chaves and Senator Jovito Salonga. Chaves laid the blame upon Salonga, Solicitor-General Sedfrey Ordoñez and the Swiss bank lawyers.[3] Salonga countered that Ordoñez had prevented the Philippine government from losing a large sum of money.[3] Evidence suggests that de Guzman acted in good faith on behalf of the new government but that a double cross may have been present.[3]
After Ferdinand Marcos and his family were sent to exile in Hawaii, President Aquino's Executive Order No. 1 on February 28, 1986, created the Presidential Commission on Good Government (PCGG). The mandate of the PCGG was to recover all the ill-gotten wealth of Ferdinand Marcos, his family, relatives, associates, and cronies. Salonga was called to head the PCGG.[4]
Operation Big Bird began when Filipino banker and Chairman of Credit Manila, de Guzman, contacted the Aquino administration and offered his services to recover the Marcos' wealth in the various banks in Switzerland and other countries. De Guzman then was put in touch with Brigadier GeneralJose T. Almonte and Charlie Avila.[5]
The banks, financial institutions and other companies that dealt with the Marcos wealth and assets were held in various countries, namely:[5][6]
On March 21, 1968, Marcos opened his first bank account in Chase Manhattan Bank in New York City and deposited US$215,000.00.[5] In March 1968, an official of Credit Suisse in Zurich, Walter Fessler, was brought to Manila on the request of Malacañang. Forms were filled out and signatures appended. Marcos, on his signature verification form, wrote "William Saunders," an alias he had used in his World War II days, and underneath that name he wrote his real name. Imelda Marcos did the same, choosing "Jane Ryan" as her pseudonym. Four bank accounts were opened and four checks, totaling US$950,000.00 were deposited.[5][7] In 1982 Credit Manila established its operations in Vienna with the incorporation of Exportfinanzierungsbank GmbH.[8] In 1985 Mike De Guzman made acquaintance with Victor Bou Dagher, a Lebanese national residing in Austria who had some connections and acquaintances in the European banking network. De Guzman later introduced Dagher to Gen. Almonte in Manila in view of the news of Marcos hiding and moving their wealth in Swiss banks. The group outlined their plans to capture Marcos' money.[8] On February 25, 1986, the People Power Revolution brought about the downfall of Pres. Ferdinand Marcos. Marcos, his family, and retinue were taken by U.S. Air Force helicopters from the PSG Compound across the Pasig River from Malacañan Palace, and were brought to Clark Air Base. The next day they were flown to Guam.
Post-EDSA events and the Lebanese connection
On February 26, 1986 The Marcos party arrived in Honolulu, Hawaii, beginning their exile. U.S. Customs officers take 5 hours to go over the 278 crates that group brought along with them. Twenty-two crates contained more than Php27.7 million in newly minted currency, mostly hundred-peso denominations worth approximately US$1,270,000.00[5] There were other certificates of deposit from Philippine banks worth about US$1 million, five handguns, 154 videotapes, seventeen cassette tapes, and 2,068 pages of documents - all of which were impounded by Customs. The Marcos party was allowed to keep only US$300,000.00 in gold and $150,000.00 in bearer bonds that they brought in with their personal luggage because they declared them and broke no US customs laws.[5] There were 24 one-kilo gold bars fitted into a $17,000 hand-tooled Gucci briefcase with a solid gold buckle and a plaque on it that read, "To Ferdinand Marcos, from Imelda, on the Occasion of our 24th Wedding Anniversary."[5] On March 1, 1986 De Guzman returned to Vienna and meets Dagher who updates him on the various reactions in the Swiss banking community regarding the recent developments in Manila. De Guzman begins to take action on how to transfer the money from the Swiss Banks to Austria.[8][9] On March 2, 1986 De Guzman and Dagher fly to Lebanon via Cyprus to meet with some contacts in the European banking industry—Beirut being the banking capital of the Mediterranean basin.[8] After arriving in Jounieh, De Guzman and Dagher met with fellow bankers who give him an idea on how Iran was able to recover the frozen assets of the abdicated Shah Mohammad-Rezā Shāh Pahlavi in Switzerland. De Guzman was informed by the contacts that the Swiss banks will be moving the Marcos money to various financial institutions to safeguard the deposits and avoid a massive withdrawal—which the bankers alleged was a dark practice of the Swiss banking system. This brought forth the suggestion that De Guzman should go to Hawaii and meet with the Marcoses to get a power of attorney to withdraw the money in their behalf before the banks close in on the accounts. De Guzman claims he has no intimate associations with the Marcoses, but that his only contact would be Col. Irwin Ver, former Commanding Officer of the Presidential Security Group, and son of General Fabian Ver. It was here where De Guzman and his associates started calling the plan "Operation Big Bird."[8] On March 12, 1986 President Aquino passes Executive Order No. 2, freezing all Marcos assets in the Philippines.[10]
The power of attorney from the Marcoses
On March 18, 1986 De Guzman and Dagher arrive in Honolulu and meet Col. Ver and Gen. Ver.[8] On March 20, 1986 De Guzman receives a call from Irwin Ver who confirms that a meeting has been arranged with the Marcoses - Ferdinand, Imelda and Bongbong - at their temporary lodging in the base housing inside Hickam AFB.[8] At the meeting, De Guzman shared the news that the Swiss banks will make a move on their account. Marcos wanted to confirm this information and sends Bongbong and De Guzman around 10:00 pm to Honolulu International Airport to call their personal banker in Credit Suisse, Ernst Scheller. The off-base call was made to avoid possible wire taps or listening devices.[5][8] Upon their return to the base housing, the Marcoses hold a family meeting where Bongbong updates the family on the teleconference. An hour later, Bongbong leaves with De Guzman for the airport once more, but this time the telephone operator refuses to give Bongbong the international connection. They return to the base housing, where De Guzman received a note from Imelda stating "Palmy Foundation" and a plastic bag containing traveler's cheques worth US$300,000.00.[8] Imelda produced a Power of Attorney and tasks Bongbong to hand this to De Guzman back at the hotel. Bongbong orients De Guzman on their contact in Credit Suisse, Ernst Scheller, and told him to get in touch with the gentleman once they enter Switzerland.[8][11][12]
Initial attempt in Switzerland
On March 24, 1986 De Guzman flew with Dagher to Zurich to meet with Scheller and present the Power of Attorney to transfer the Marcos money to the Exportfinanzierungsbank in Vienna. They were initially informed by Scheller that the Swiss authorities have put a "freeze order" on all the accounts linked to the Marcoses, but failed to produce any formal documentation on this. Scheller also mentioned that he re-documented the records already and moved the accounts as instructed by Ms. Fe Gimenez, Marcos' personal secretary, three weeks before after their evacuation of Malacañan Palace. Without the formal notice of the freeze order, De Guzman suspects Scheller of stalling the transfer in protection of the interest of Credit Suisse and not the Marcoses.[11] After the meeting, Scheller calls on the Swiss Federal Banking Commission that De Guzman was trying to transfer US$213 Million to Vienna. That very same evening the Banking Commission, in an unprecedented move, imposed an emergency freeze order on all the accounts of the Marcoses. This act was questioned later since the Banking Commission does not have the authority to freeze bank accounts.[5][11][12] The Swiss Federal Council taking note of the confusion created by the Banking Commission's "freeze order" made a follow through act, and formalized the freeze order in anticipation of the new Philippine government's claim on the said accounts. The Aquino government welcomed the freeze order, and the PCGG hired three prominent Swiss lawyers Messr. Sergio Salvioni, Guy Fontanet, and Moritz Leuenberger, to handle its case. The said lawyers were recommended by Chief Justice of the Federal Supreme Court Otto Konstantin Kaufmann, who was the classmate of Salonga in Yale University.[11][12][13] On April 18, 1986 the Philippine government submitted an informal request to the Swiss authorities for mutual assistance in the recovery of the Marcos wealth.[12] On April 25, 1986 the Government of the Philippines submitted a follow-through formal request for mutual assistance to investigate and retrieve the ill-gotten wealth. The Swiss Federal Office of Police then issued a freeze order in substitution for the exceptional freezing order of the Federal Council.[12]
Operation Big Bird under the Philippine government
On May 7, 1986 Mike de Guzman attempts once more to retrieve the Marcos money in the Swiss accounts, by making Scheller acknowledge their personal meeting and the Power of Attorney. Scheller replied by telex from Credit Suisse, but informs De Guzman that the freeze order is still in place.[11] De Guzman finally calls Gen. Almonte and updates him of his recent activities. Almonte on the other hand informed De Guzman that there are some parties in the new government who have serious doubts about him as he had a reputation for being an associate of Eduardo Cojuangco, Jr., a Marcos crony. This prompts De Guzman to head to Manila to present his plans for Operation Big Bird to the new Philippine Government.[11] On June 16, 1986 in Manila, Gen. Almonte arranges a meeting between De Guzman and the brother of Pres. Aquino, Congressman Jose Cojuangco, Jr. (Tarlac, 1st District).[5][12][14] De Guzman offered to help the Aquino government in retrieving the Marcos wealth in return for a fee of 20% commission on the initial batch of funds. De Guzman presented that they had identified accounts in Credit Suisse amounting to US$213 million, and eleven foundations that held a total of US$4.5 billion in deposits in nine different banks with an additional US$3 billion in precious metals and securities on deposit - or a tentative total of US$7.5 billion. And most of all, they had the Power of Attorney from the Marcoses.[5] Cojuangco instructs Dr. Fernando Carrascoso, who was present in the meeting, to arrange for De Guzman's introduction to PCCG Chairman Jovito Salonga.[11] On June 18, 1986 Dr. Carrascoso informed De Guzman that Chairman Salonga was not available, and thus he was instead referred to Commissioner Raul Daza. The meeting was also attended by Mayor Charlie Avila. De Guzman briefs the gentleman on the plans of Operation Big Bird. Daza committed to get approval from Salonga.[11] On June 26, 1986 De Guzman, Dagher, and Almonte fly to Bern, where the group, through the arrangement made by Amb. Ascalon, met with PCCG lawyer Dr. Salvioni, who advises them that any request made by the Philippine Government must be signed by the Solicitor-General of the Philippines.[11] On July 1, 1986 After conferring with his older brother, Congressman Cojuangco presents the options to President Aquino, and a meeting was arranged for General Almonte and De Guzman to orient the President on Operation Big Bird. Aquino approved the plan, and Operation Big Bird finally commenced with De Guzman, Almonte, being joined by Solicitor-General Sedfrey Ordoñez.[5][11][12][15] De Guzman makes Ordoñez and Almonte members of the Board of Exportfinanzierungsbank, along with Almonte's former mentor and former Marcos Executive Secretary, Amb. Alejandro Melchor, Jr.[14]
Second attempt with the Philippine Government
On July 4, 1986 De Guzman, Almonte, and Ordoñez arrive in Bern, and are met by Ascalon. Ascalon informs the new Philippine government recovery team that the three Swiss lawyers of the PCGG and a gentleman by the name of Pieter Hoets was waiting at the Philippine Embassy. Upon arrival at the Embassy, Hoets and the lawyers insisted that the scheduled meeting with the Swiss bankers should only be attended by Ordoñez, and that De Guzman and Almonte should not be included. Almonte defends the group and reminds that they have all been appointed by the President to work as a team on Operation Big Bird. A long argument ensues between the Swiss lawyers and the Philippine representatives.[11] A meeting with the Federal Department of Justice and Police only took 20 minutes, when the Swiss authorities unanimously decided to approve in principle the selective defreezing of only those identified Marcos accounts and foundations, amounting to US$213 million.[16] The Swiss authorities advised the Philippine representatives to formalize the request, and even told them to finish this before the day's end.[11][12] Upon returning to the Philippine Embassy, the group calls Chairman Salonga and Congressman Cojuangco on the success of the Operation, and rushes to complete the required formal documents. Dr. Salvioni questions the urgency of the Filipino team, but was ignored and Ordoñez signed the request accordingly. The letter arrived at the FDJP with 15 minutes to spare before the 6:00 pm deadline. FDJP was to act on the request, and by Monday, July 7, have the Zurich Court execute a transfer instruction to the Swiss banks.[11] On July 6, 1986 De Guzman receives additional information on the newly identified Marcos accounts in Switzerland amounting to US$3 billion in six different banks. The breakdown of the deposits are US$700 million in money placements, US$1.3 billion in securities and bonds, and US$1 billion in Gold certificates. It was suggested for the team to prepare the same request as those of July 4, and that Almonte shall fly to Switzerland first thing the next day to endorse the documents to Ambassador Ascalon for a formal communication to the FDJP.[11] On July 7, 1986 Almonte flies alone to Zurich at 6:00am with the signed documents, but Ascalon refuses to affix the official communication of the Embassy without the approval of Dr. Salvioni. De Guzman, who was in Vienna, frantically tries to track down Dr. Salvioni to no avail. Almonte returns to Vienna that night and briefly updates Ordoñez on what has transpired in Bern. Ordoñez postpones the meeting until the next day.[11] The FDJP meanwhile acts on the request and lifts the freeze order on the US$213 Million identified by the Philippine representatives.[8][11][12]
The former office of the Exportfinanzierungsbank along Prinz Eugen Strasse in Vienna.
On July 8, 1986 The Judge of Instructions in Zurich ordered Credit Suisse to release and transfer the defreezed Marcos deposits to the account of the Philippine Government in Exportfinanzierungsbank in Vienna.[12] Ordoñez however made a turn around, in fear of the money being diverted from Vienna to a Marcos-favored destination. The Swiss lawyers hired by the PCGG tipped Ordoñez on the credibility of De Guzman and his bank in Vienna. Ordoñez instructed the Swiss lawyers, without informing Almonte and De Guzman, to request the FDJP and Credit Suisse to direct the transfer of the monies to a new destination, the newly opened account of the Philippine Government within the said bank.[12] Ordoñez secretly left Vienna for Zurich then to Manila on the orders of PCGG Chairman Salonga.[9][14] Almonte and De Guzman are left in Vienna without an idea as to what happened to the Solicitor-General, and frantically search Vienna for the Filipino official, until confirming on July 10 that Ordoñez was already in Manila.[8][11] Meanwhile, before the transfer was made, the Credit Suisse official, Ernst Scheller, contacted the son of the former President, Bongbong Marcos, and informed him of the Philippine Government's actions. This gave Ferdinand Marcos to execute a revocation of his Power of Attorney to De Guzman.[8][12] On July 11, 1986 De Guzman and Almonte head back to Manila and debrief Congressman Cojuangco on the events that took place in Bern and Vienna. Marcos' revocation of the Power of Attorney was sent by facsimile to his Swiss lawyer, Bruno de Preux of the law firm Tavernier, Gillioz, de Preux, Dorsaz in Geneva.[12] On July 13, 1986 The Philippine Daily Inquirer quotes Ordoñez that they were able to retrieve the initial US$213 million of Marcos' plundered money in Switzerland, and that the said fund will be in the government's hands soon.[11] Marcos' Swiss lawyers submit copies of the revocation to the Swiss authorities.[8][12] On July 20, 1986 The FDJP rescinded the defreeze order reference to the Revocation Letter received from Marcos on the Power of Attorney given to De Guzman.[12][16]
Aftermath
Almonte received a call from Malacañang on December 24, 1986, and was called for a meeting with the President to debrief her on what actually happened in Switzerland and Austria.[8] The meeting was confirmed by Ms. Ching Escaler, Aquino's Appointments Secretary (and later Philippine Ambassador and Permanent Representative to the UN in Geneva and New York City) on December 29, 1986. Almonte arrived with De Guzman in Malacañang, and was met first by Executive Secretary Joker Arroyo who stalled the two along with Justice Secretary Ordoñez from meeting the President.[8][14]
Meanwhile, on October 21, 1988, a US federalgrand jury in New York indicted Ferdinand and Imelda Marcos for a US$268 million racketeering scheme, siphoning the Philippine Treasury of US$103 million, and defrauding US banks of US$165 million. By November 3, Imelda returned to Hawaii after Doris Duke posted a US$5 million bail.[10]
The Philippine Government thus lost its chance to recover the money in the Marcos Swiss accounts through Operation Big Bird. The whole fiasco was then brought into light by the Philippine House of Representatives' Committee on Public Accountability in mid-1989, under the Chairmanship of Cong. Victorico "Concoy" Chaves (2nd District, Misamis Oriental).[12]
The Chaves Report suggested that the Philippine Government would have immediately recovered the $213 million in July 1986 from Credit Suisse and its affiliates had the operation not been stopped by PCGG Chairman Salonga and Solicitor-General Ordoñez, and that this would have "paved the way to the recovery of the other deposits of the Marcoses with the Swiss banks" which was estimated by the Chaves Report to be at least $3 billion.[12]
On the side of De Guzman and Gen. Almonte however, they also lay the blame on Executive Secretary Joker Arroyo, and Philippine Ambassador to Bern, Luis Ascalon, aside from Ordoñez and Salonga.[2] Jovito Salonga, who by 1989 was already the Senate President, and Ordoñez who became Justice Secretary, have fully denied these accusations.[16][17]
The Chaves Report also rejected the view of the Swiss attorneys and PCGG Chairman Jovito R. Salonga that they had saved the Philippine Government from a massive theft. It concluded that if the funds were remitted to the Vienna bank to the account of Philippine government, whose authorized joint signatories were Solicitor-General Ordoñez and Gen. Almonte, there was no realistic chance that De Guzman would have stolen the money. In addition to this the Exportfinanzierungsbank in Vienna was also strictly regulated by the Austrian Federal Market Authority (FMA), and that the bank's board even had Almonte, Ordoñez, and Amb. Alejandro Melchor - ensuring the Philippine government's interest in the bank protected. And finally, De Guzman expected to receive a commission of $40 million (i.e. a 20% commission on the $213 million) if the monies were recovered, and thus he had an interest in ensuring that recovery did take place.[12]
On December 20, 1990, the Federal Supreme Court of Switzerland decided that the US$213 Million along with other banking documents should be transferred to the Philippine government, with conditions however.[18]
On August 10, 1995, the PCGG filed with the District Attorney in Zurich, Switzerland, an additional request for the immediate transfer of the deposits to an escrow account in the Philippine National Bank (PNB). The request was granted. On appeal by the Marcoses, the Swiss Federal Supreme Court, in a decision dated December 10, 1997, upheld the ruling of the District Attorney of Zurich granting the request for the transfer of the funds. In 1998, the funds were remitted to the Philippines in escrow.[7]
On December 10, 1997 under the Swiss Federal Act of International Mutual Assistance in Criminal Matters (IMAC), the Swiss Federal Supreme Court, issued the final decision to transfer the fund to the Sandiganbayan which now grew to US$540 Million due to interest.[18]
Also in 1997 the Philippine Senate's Blue Ribbon Committee and the House of Representatives' Committee on Good Government, would again review the saga of Operation Big Bird, with the same conclusion. Aquino's Vice President, Salvador Laurel would reflect that this their administration's greatest failure.[19]
Starting April 1998 up to July of that year, the Swiss authorities started transferring the identified Marcos money in Swiss banks to an escrow account in the PNB.[20]
On July 29, 1999, Sandiganbayan Presiding Justice Francis E. Garchitorena denies the motion to release US$150 million from the funds to pay Marcos human rights victims.[7][21]
On October 27, 1999, the Senate Blue Ribbon Committee held a special hearing in the Philippine Consulate in Honolulu. In the hearing, businessman Enrique Zobel testified that in early 1989, he met with Marcos as he was for asking a US$250 million loan from him. Zobel in turn, refused it unless there was a financial backing. Marcos later produced documents of a Vatican trust in gold accounts to pay off the loan.[22]
On February 4, 2004, the retrieved Marcos money which now grew to US$683 million, was finally transferred by PNB to the Bureau of the Treasury.[18][23][24]
According to the Agrarian Reform Law, part of the retrieved Marcos wealth will be utilized for the government's agrarian reform program, and the remaining part for the compensation of the victims of the Marcos dictatorship. Once all pending legalities were settled regarding the US$683 Million in escrow, the fund was finally transferred to the Department of Agrarian Reform and Department of Agriculture.
Ferdinand Emmanuel Edralin Marcos Sr. was a Filipino politician, lawyer, dictator, and kleptocrat who was the 10th president of the Philippines from 1965 to 1986. He ruled under martial law from 1972 until 1981 and kept most of his martial law powers until he was deposed in 1986, branding his rule as "constitutional authoritarianism" under his Kilusang Bagong Lipunan. One of the most controversial leaders of the 20th century, Marcos' rule was infamous for its corruption, extravagance, and brutality.
The People Power Revolution, also known as the EDSA Revolution or the February Revolution, was a series of popular demonstrations in the Philippines, mostly in Metro Manila, from February 22 to 25, 1986. There was a sustained campaign of civil resistance against regime violence and electoral fraud. The nonviolent revolution led to the departure of Ferdinand Marcos, the end of his 20-year dictatorship and the restoration of democracy in the Philippines.
Imelda Romualdez Marcos is a Filipina politician and convicted criminal who was First Lady of the Philippines for 20 years, during which she and her husband Ferdinand Marcos stole billions of pesos from the Filipino people, amassing a personal fortune estimated to have been worth US$5 billion to US$10 billion by the time they were deposed in 1986. By 2018, about $3.6 billion of this had been recovered by the Philippine government, either through compromise deals or sequestration cases.
Ferdinand Romualdez Marcos Jr., commonly referred to as Bongbong Marcos or by his popular initials BBM, is a Filipino politician who is the presumptive president-elect of the Philippines. He previously served as a senator from 2010 to 2016. He is the second child and only son of former president, dictator and kleptocrat Ferdinand Marcos Sr. and former first lady and convicted criminal Imelda Romualdez Marcos.
Maria Imelda Josefa Remedios "Imee" Romualdez Marcos is a Filipina politician serving as a Senator since 2019. She is the daughter of the late president, dictator, and kleptocrat Ferdinand Marcos and former first lady and convicted criminal Imelda Marcos. She previously served as governor of Ilocos Norte from 2010 to 2019 and as representative of Ilocos Norte's 2nd district from 1998 to 2007.
Jovito "Jovy" Reyes Salonga, KGCR was a Filipino statesman and lawyer, as well as a leading opposition leader during the regime of Ferdinand Marcos from the declaration of martial law in 1972 until the People Power Revolution in 1986, which removed Marcos from power. Salonga was the 14th President of the Senate of the Philippines, serving from 1987 to 1992.
Metrowalk is a small but major commercial hub in Pasig in the Philippines. It is located on a 5,000 square meters (54,000 sq ft) parcel of land at the junction of Ortigas and Meralco Avenues in the Ortigas Center central business district of the metro.
Francisco "Frank" Chavez was a Filipino lawyer. He was the Solicitor General of the Philippines during the Aquino administration.
Jose T. Almonte was the National Security Advisor and Director-General of the National Security Council in the Cabinet of Philippine President Fidel V. Ramos. He was also the head of the National Intelligence Coordinating Agency and the Director of the Economic Intelligence and Investigation Bureau (EIIB) during the administration of Pres. Corazon Aquino.
The Presidential Commission on Good Government (PCGG) is a quasi-judicial government agency of the Philippines whose primary mandate is to recover the ill-gotten wealth accumulated by Ferdinand Marcos, his immediate family, relatives, subordinates and close associates, whether located in the Philippines or abroad. It was created by President Corazon Aquino shortly after she was sworn in as president in the aftermath of the 1986 People Power revolution. In addition to recovering the Marcos wealth, it is also tasked with investigating other cases of graft and corruption; and instituting of corruption prevention measures.
Philippine Communications Satellite Corporation (PHILCOMSAT) is a telecommunications company based in Makati, Metro Manila, Philippines. Its main teleport is in the province of Rizal.
The term "Marcos mansions" refers to at least 50 upscale residences in the Philippines of the family of President Ferdinand Marcos. These are aside from the various overseas landholdings of the Marcos family, which are spread around the world. The Supreme Court of the Philippines considers these landholdings as part of the "ill-gotten wealth" of the Marcos family, based on the definitions set forth in Republic Act No. 1379, which had been passed in 1955.
Certain associates of former Philippine President Ferdinand Marcos, historically referred to as the Cronies of Ferdinand Marcos or using the catchphrase "Marcos cronies", have benefited from their friendship with Marcos – whether in terms of legal assistance, political favors, or facilitation of business monopolies, during his administration. Marcos critics, and the local and international press began referring to these individuals as "cronies" during the latter days of the Marcos dictatorship, and the Philippine government – especially the Presidential Commission on Good Government (PCGG) – continued using the term after the ouster of Marcos in 1986.
Jose Yao Campos, also known by his Chinese name Yao Cho Liat, was a Filipino businessman best known as the founder of United Laboratories (UNILAB). He became an early supporter of Philippine president Ferdinand Marcos, who tapped him as a "financial advisor." In 1986, the Presidential Commission on Good Government (PCGG) cited him for having served as a "front man" for various "ill-gotten" wealth, including $52.5 million of real estate representing the most prominent Marcos Mansions. He became the first of the Marcos cronies to make a deal with the PCGG in exchange for immunity from suit. By the time he died in 2006, his family had become one of the Philippines' most powerful business clans, with UNILAB helmed by his firstborn, Joy Campos Hess and her son, Clinton Hess. His eldest son Joselito Campos founded condiments company Nutri-Asia and acquired in Del Monte Philippines and Del Monte Pacific; and his youngest child Jeffrey Campos running Greenfields Development Corporation.
The Marcos family is a political family in the Philippines. They have established themselves in the country's politics, having established a political dynasty that traces its beginnings to the 1925 election of Mariano Marcos to the Philippine House of Representatives as congressman for the second district of Ilocos Norte; reached its peak during the 21-year rule of Ferdinand Marcos as president of the Philippines that included his 14-year dictatorship beginning with the declaration of Martial Law throughout the country; and continues today with the political careers of Imelda Marcos, Imee Marcos, and Ferdinand Marcos Jr.
The Marcos jewels generally refers to the jewelry collection of the Marcos family – most famously that of former First Lady Imelda Marcos. However, it also specifically refers to three collections of jewelry which were recovered by the Presidential Commission on Good Government (PCGG) in 1986, which the Philippine Supreme Court had ruled to be part of the Marcoses' unlawful wealth.
The overseas landholdings of the Marcos family, which the Philippine government and the United Nations System's Stolen Asset Recovery Initiative consider part of the $5 billion to $13 billion "ill-gotten wealth" of Ferdinand and Imelda Marcos, are said to be distributed worldwide in places including California, Washington, New York, Rome, Vienna, Australia, Antilles, the Netherlands, Hong Kong, Switzerland and Singapore. These are aside from the fifty-or-so Marcos mansions acquired by the Marcos family within the Philippines itself.
The Marcos family, a political family in the Philippines, owns various assets that Philippine courts have determined to have been acquired through ilicit means during the presidency of Ferdinand Marcos from 1965–1986. These assets are referred to using several terms, including "ill-gotten wealth" and "unexplained wealth," while some authors such as Philippine Senator Jovito Salonga and Belinda Aquino more bluntly refer to it as the "Marcos Plunder."
The Silahis International Hotel, later known as the Sofitel Grand Boulevard Hotel, is an abandoned hotel in Manila, Philippines.
Historical distortion regarding Ferdinand Marcos is a phenomenon in the politics of the Philippines. Ferdinand Marcos was the country's president between 1965 and 1986. Distortion, falsification, or whitewashing of the historical record regarding this period, sometimes referred to using the phrases "historical denialism", "historical negationism", or "historical revisionism" as an eupheminism for negationism, is an academically documented phenomenon linked to the return of Marcos' immediate family and political allies to government positions, as well as the hero's burial of Marcos himself in 2016. It continues Marcos' own efforts to create a cult of personality for himself, which in itself involved various forms of historical distortion.
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