Manila — Imelda Marcos was found guilty of corruption on Friday and handed a lengthy prison term in a rare conviction for the former Philippines first lady accused with her late dictator husband of embezzling billions of dollars from state coffers. However, it is unlikely that 89-year-old Marcos will spend much time behind bars as she is allowed to appeal the ruling and can remain free on bail as long as the conviction is not final. The verdict from the anti-graft Sandiganbayan court orders her to serve a minimum of six years behind bars for each of the seven charges that the Marcoses funneled roughly $200m through Swiss foundations decades ago. This leaves her potentially facing decades in prison, however, the exact length of the term was not immediately clear. Ferdinand Marcos, who, along with his cronies, was accused of pilfering $10bn from the Philippines, fled with his family to the US after a people’s uprising ended his 20-year rule in 1986. He died in 1989 while still in exil...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.