Monday, 10 December, 2018

Joma welcomes Imelda Marcos conviction

Ex-Filipino First Lady Imelda Marcos faces years behind bars Imelda Marcos found guilty on 7 counts of graft
Deanna Wagner | 09 November, 2018, 15:56

The former first lady of the Philippines, who became renowned for her lavish collection of shoes, has been found guilty of seven counts of corruption during her twenty years in office.

The verdict from the anti-graft Sandiganbayan court orders her to serve a minimum of six years behind bars for each of the seven charges that the Marcoses funnelled roughly $200 million through Swiss foundations decades ago.

Ilocos Norte 2nd District Representative Imelda Marcos (middle) talks to her children, Ilocos Norte Governor Imee Marcos and ex-senator Bongbong Marcos, during a congressional hearing on August 9, 2017.

The Office of the Ombudsman filed 10 graft cases from 1991 to 1995, stemming from Marcos' alleged funneling of funds to private organizations she created in Switzerland from 1968 to 1984 while holding various government posts during her husband's term.

She is infamous for her extravagant lifestyle during the reign of her husband, the late dictator Ferdinand Marcos.

Marcos said in a statement her lawyer is "studying the decision and he has advised us that he intends to file a motion for reconsideration".

Marcos died in 1989 while still in exile.

The case has been pending with the anti-graft court for 27 years.

Oil Teeters Near Record Losing Streak After Entering Bear Market
The US has also granted waivers to nearly all key clients of Iran's crude oil for fear of further hikes in oil prices. That would be about half the daily average China has been importing from Iran since January 2016, trade data showed.

The court's decision came almost three decades after the case was filed.

"She can elevate it to the Supreme Court if she sees grave abuse of discretion in the Sandiganbayan's decision".

Pangiliinan said the long road to conviction shows "how long and therefore frustrating the Philippine judicial system is, and especially in relation to how powerful and powerfully entrenched the accused are".

The family's notoriety stems back to Ferdinand Marcos declaring martial law in 1972.

The arrest warrant may not be executed immediately because Marcos can appeal the ruling by the Sandiganbayan court, a prosecutor said.

The younger generation of Marcoses have led high-profile careers, despite the dark past associated with their name.

President Rodrigo Duterte enjoys good ties with the Marcos family and has often praised the late strongman.

Imelda's son, also named Ferdinand, nearly won the separate election for vice president that year.