Ilocos Norte Rep Imelda Romualdez Marcos
Photo by NPPA Images

MANILA — The Marcoses lost another case when the Sandiganbayan ordered the garnishment of a multi-million-peso deposit of Ilocos Norte Rep. Imelda Romualdez Marcos at the Philippine Veterans Bank (PVB) to pay off a 36-million-peso judgment cost imposed on her late husband, former President Ferdinand Marcos, for siphoning funds from the National Food Authority (NFA) in 1983.

In a letter submitted last June 28 to the graft court, PVB Legal Officer Rydely C. Valmores confirmed that Mrs. Marcos has an account with the bank’s Main Office Servicing Department (MOSD).[box type=”default” size=”large”] FM pocketed 10 M-peso NFA fund in 1983 — court [/box]Valmores made the disclosure in compliance with the notice of garnishment issued last June 20 by Albert A. dela Cruz, acting Sandiganbayan chief sheriff.

The garnishment order arose from the court’s September 9, 2010 decision ordering Mrs. Marcos to reimburse the government 10-million pesos in NFA funds secretly transferred by her husband to a private account on July 27, 1983.

In its ruling, the graft court stated that former President Marcos pocketed the amount of 10 million pesos that was withdrawn on his orders from the NFA’s account at the Philippine National Bank.

The court ruled that the testimony of former NFA Administrator Jesus Tanchanco was more than sufficient to establish fraud in the transaction.

Computations by Sandiganbayan accountant Rodito C. Laggui Jr. showed that the interests on the 10 million pesos for almost 29 years amounted to 34 million pesos. (Rolly Carandang, Manila Bulletin)


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