Sandigan orders bank to pay P373M in Marcos ill-gotten wealth

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Philippine Star September 28, 2021 | 9:00pm MANILA, Philippines — Sandiganbayan has ordered Royal Traders Holding Co. Inc. to pay the government at least P373.49 million that the anti-graft court found to be part of the ill-gotten wealth of the late dictator Ferdinand Marcos and his family. In a 52-page decision, Sandiganbyan also ordered the RTHI, formerly the Traders Royal Bank, to pay 12% interest each year “reckoned from February 1993, until all the amounts are fully paid.” The court based these amounts — P65.98 million, P30.5 million and $5.44 million ($1:P50.92) — on bank certificates recov…

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