Marcos Planning Court Plea to Stop Jewelry Sell-off

September 13, 05 by Albert Robinson

Former Philippine first lady Imelda Marcos plans to go to court to block the Philippines government from auctioning off her jewelry in November.

Imelda Marcos holding a
diamond-encrusted compact
Photo: Cinediaz/unico Entertainment

The gems, which include a 37.5-carat diamond, were seized by the government shortly after Marcos and her husband were ousted from power in 1986. The government estimates the diamonds could fetch as much as $10 million at auction.

The government says the jewels were bought with money stolen from the national treasury, but Marcos denies the claims, saying the jewels are hers and the authorities do not have the right sell them off.

Ricardo Abcede from the Presidential Commission on Good Government, carrying out a worldwide search for the Marcos fortune, said the jewels were legally seized by U.S. and Philippines customs authorities and that the country’s Supreme Court has upheld the seizure.

Abcede said valuers from auction houses Christie's and Sotheby's would arrive in Manila on Wednesday to appraise the jewels.

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Marcos Planning Court Plea to Stop Jewelry Sell-off

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