Controversial family from the Philippines took out billions, the government is trying to get them back

Imelda Marcos – a name synonymous with wealth, greed and intemperance.

During her husband's 20 years in power, Imelda amassed a vast collection of art, jewelry, real estate and—what she is famous for—at least 1.000 pairs of shoes.

Artworks by Van Gogh, Cézanne, Rembrandt, Raphael and Michelangelo; palaces in the United States and native Philippines; silver escaige, gold necklaces, diamond tiaras – Markosova had the best of what the world had to offer.

After they were ousted in 1986, Philippine investigators estimated the Marcoses' wealth at about $10 billion.

Fernando Marcos' successor, President Corazon Aquino, formed a special commission tasked with recovering that money – but today, more than 25 years later, only four billion dollars have been recovered.

What happened to the remaining part of the Markosova collection? The issue came back into the spotlight late last year, when a former Marcos ally, Vilma Bautista, appeared in court in New York on charges of illegally selling a Monet painting. Three more works were found with her.

The commission found that all four works were on the list of 146 paintings that were once owned by the Marcoses.

Heels and stocks

Unsurprisingly, the part of the collection that was the easiest to track down was Imelda's heels.

Photos of shelves and shelves of branded shoes, left behind in the presidential palace when the Marcoses fled to Hawaii, became a symbol describing their extravagant lifestyle.

Many of these shoes are housed in a special museum in Marikina, an area north of Manila that is famous for shoe production. The rest are in the National Museum, along with some of Marcos's evening dresses. However, in September it was announced that a large part of the collection had been eaten by termites, which caused a storm of reactions.

While the heels and clothing undoubtedly have historical significance, they do not have much monetary value.

Therefore, the government commission concentrated on more valuable items - real estate in New York and stocks worth several million dollars were sold, but also 600 million were seized from Swiss bank accounts. A diamond and ruby ​​tiara was also found in a Swiss central bank safe, which could fetch more than eight million dollars.

However, the head of the commission, Andres Bautista, admits that there are still many items missing - especially works of art. The commission started with a list of more than 300 lost works – mostly by the great masters – and almost half of them are still unaccounted for. “We really don't know where they are. "She could be anywhere," he said.

I asked him if some of those works were still in the hands of Imelda Marcos (her husband Ferdinand died in 1989). His answer was cautious: "We think alike."

Robert Sison, Marcos' lawyer, fears that the Philippine authorities think the same. And while Sison said he wasn't informed of the artwork the family still owns, he doesn't think that's a good way to look at the issue.

He emphasized that the commission did not recover but "confiscated" the Marcoses' wealth, insisting that there is no legal basis for confiscating any of the above. "The Philippine government has no right to investigate why Marcos had these artworks," Sison said. "Before he became the president of the country, Ferdinand Marcos was a gold trader and that's when he made his fortune". Sisok emphasized that, despite numerous indictments against the family, none of them resulted in a conviction.

Back in power

Defending the commission's decisions, Bautista alluded to a 2003 Supreme Court ruling that found all but $320.000 of the family's assets to be ill-gotten gains. "We took an oath for this job, and we want to do it as well as possible." However, Bautista faces an uphill battle – and not just because lost works are hard to find.

The commission's work is hampered by another major factor – the Marcoses are once again a political force. Imelda is a member of the congress; her daughter Imee is the governor of a province, her son BongBong is a distinguished senator who has a real chance of becoming the head of state in 2016.

The fact that the Marcoses are back in power "really doesn't help us," he concludes.

All things considered, it is perhaps not surprising that he wants to phase out the commission. But he's not ready to admit defeat just yet—indicating that the Justice Department is still investigating—but when I asked him if he thought the entire Marcos collection would ever be found, he paused, then laughed. “Filipinos are too forgetful – and we forgive too easily,” he said.

New priorities

The focus has now shifted to another former leader. Gloria Arroyo left power in 2010 and is suspected of corruption and a number of other offenses. Her trial is expected soon. Time continues to flow, memories fade, and new priorities take precedence.

Perhaps the entire Marcos collection will never be found. Perhaps the missing pictures will remain in private homes, shops and bank vaults around the world.

As for Markos, now in her 80s, she's still as strong and striking as ever—and still an avid art collector.

During one of the interviews with her, I asked her for a photo as a memento of the meeting. We posed in front of a picture. "Wow, is that a Picasso," I asked her. "Yes," she said proudly.

Translated by: Miloš Rudović

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