Philippines gives up on missing Marcos billions | ABC Asia Pacific News

Philippines gives up on missing Marcos billions

Philippines gives up on missing Marcos billions

Updated 2 January 2013, 9:49 AEST

After a hunt that's lasted nearly 30 years, the Philippines says it will wind down its search for the massive wealth embezzled by late dictator Ferdinand Marcos - even though more than half the supposed $10 billion fortune is still missing.

The man in charge of the search, Andres Bautista, says that with Marcos' widow and children back in positions of political power, and the government tightening its belt, the cost of the pursuit has become prohibitive.

Australian journalist Jackie Dent has met the Marcos family and wrote about the experience for the Fairfax press late last year. 
 
Presenter: Laura Tchilinguirian
 
Speaker: Jackie Dent, Australian journalist

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