Client | Ferdinand Marcos |
Bank | Merrill Lynch |
Start Date | 1972-00-00 |
Amount | 2,000,000 USD |
Notes | The contested $40-million Arelma asset of the Marcoses was first deposited by the late President Ferdinand Marcos in an account with Merrill, Lynch, Pierce, Fenner & Smith Inc. in New York in 1972. At the time, it was estimated to be $2 million. When the Presidential Commission on Good Government (PCGG) discovered the secret account in 2000, it had already grown to $35 million. |