FREEZE SWISS ACCOUNTS OF IMELDA'S AIDE -- PCGG
Manila, March 13, 2003 -- The PCGG yesterday filed an ill-gotten wealth case against Imelda Marcos' former social secretary Fe Roa-Gimenez, her husband and her brother-in-law in a bid to recover an account with Adler and Co. AG Bangeschaft in Zurich, Switzerland amounting to $3.2 million and DM3.09 million.
In its 23-page complaint, the government asked the Sandiganbayan to forfeit the funds in favor of the state and order the respondents to explain how they were able to amass such assets which, lawyers of the commission said, were disproportional to their incomes.
"Considering the financial standing, earning capacity and net worth of the conjugal properties of the spouses Gimenez...they could not have legitimately acquired the funds that was deposited in the Swiss accounts. Hence, the same must be deemed not only ill-gotten but also subject to forfeiture under RA 1379 in favor of the government," the PCGG claimed.
Based in the joint income tax returns filed by Gimenez and her husband, Ignacio Bautista Gimenez from 1981 to 1985, their total assets only amounted to P955,273.71.
Citing tax records, the PCGG also noted that Ignacio even declared losses from his stock brokerage business between 1981 to 1984. He made no income disclosure in 1985.
However, in July 1985 Roberto Olanday, half-brother of Ignacio Gimenez formed Guaranteed Education Inc. (GEI), a pre-need education firm, and registered its article of incorporation in the Republic of Panama.
In February, the following year, Ignacio went to Hong Kong and opened Account No. 02.004208 with the Hong Kong Shanghai Banking Corporation through its branch in Zurich, Switzerland.
PCGG submitted copies of the HSBC trust agreement, the general deed of pledge and assignment, and the account management mandate as proof of this transaction.
On March 13 and 17, 1986, several deposits in various currencies went into Ignacio's HSBC account including US$2.09 million, DM1.27 million and Japanese Y98.47 million.
Reported by: Sol Jose Vanzi
© Copyright, 2003
by PHILIPPINE HEADLINE NEWS ONLINE
All rights reserved
PHILIPPINE HEADLINE NEWS ONLINE [PHNO] WEBSITE