Chasing Dictators' Cash
The Philippines government is close to recouping the "Marcos millions" allegedly stolen by former dictator Ferdinand Marcos and salted away in Swiss banks. Zurich's chief prosecutor, Peter Cosandey, ruled on Aug. 28 that an estimated $500 million can be transferred to Manila unless his decision is challenged by Sept. 16.
Now it may be open season on dictators' alleged cash hordes hidden in Switzerland. Haiti is seeking $260 million from accounts of former President Jean-Claude Duvalier. The Central African Republic wants funds in accounts of former emperor Jean Bedel Bokassa. Even Saddam Hussein may have worries. According to Iraqi exiles, Iraq's Ambassador to the U.N. in Geneva, Barzan al-Tikriti, Saddam's half-brother, controls family cash in Switzerland. He is rumored to be siding with Hussein Kamal Hassan, Saddam's son-in-law who defected to Jordan.