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On October 21, 1988, the Marcos were tried for fraud
On this day, 37 years ago, October 21, 1988 (September 11, 1988 in the lunar calendar), the Marcos couple were tried on charges of fraud. Imelda ignored the protesters 'protests and entered the federal court under the escort of bodyguards. On October 21, 1988, a U.S. federal grand jury opened a case in Manhattan, New York, accusing former Philippine President Marcos and his wife of fraud. When Marcos came to the United States, he claimed that his total assets were less than US$1 million. After more than two years of investigation, a federal grand jury found that Marcos and his accomplices used $102 million of Philippine government public funds to purchase three office buildings in New York from 1981 to 1983, and used fraud to lend $165 million to two U.S. banks., used to supplement New York properties and purchase other private property. The Marcos couple also own a large number of deposit accounts in banks in Switzerland, Hong Kong, the Philippines, the United States and other places, large shares in investment, construction, real estate and other companies in the United States, the United Kingdom, Canada, and the Philippines, and art and furniture worth US$6 million. The total assets are unknown. The indictment also charged the Marcos with contempt of court for refusing a grand jury summons to provide samples of their fingerprints, voice and handwriting. According to the fraud clause of U.S. law, if the Marcos couple are convicted, their illegal property will be confiscated and can be sentenced to up to 20 years in prison. Marcos 'lawyer said in Hawaii that the Marcos and his wife would go to New York on the 31st to surrender their cases. The Philippine government welcomes the U.S. indictment of Marcos, saying the move is a sign of support for the Aquino regime. The head of the Integrity Commission, which is assisting the U.S. investigation of the case, said it would be a "strong and powerful message" to "dictators around the world who are above the law, plunder the country and abuse public trust to enrich their own pockets that they can no longer find a safe haven in the United States."


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