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Marcos' assets awarded to Govt.

Manila: The Philippines Supreme Court on Tuesday awarded the Philippine Government the frozen Swiss bank deposits of the late dictator, Ferdinand Marcos, which has swelled to $658.2 millions. ``In the face of undeniable circumstances and the avalanche of documentary evidence against them, Marcoses failed to justify the lawful nature of their acquisition of the assets,'' the Supreme Court said. ``Hence, the Swiss deposits should be considered ill-gotten wealth and forfeited in favour of the State.'' The decision reversed an earlier ruling by the anti-graft court that the Government had not established that they belonged to the Marcos family. A Swiss court transferred around $570 millions in Marcos deposits in 1999 to the Philippine National Bank, which holds them in escrow account.

AP

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