Thursday, September 3, 2015

ASEAN RACE OF POLITICAL MONEY

INDONESIA
Mohamed Suharto was Indonesian president from 1967 to 1998. His regime was considered as the lost corrupt of the 20th century. He and his family had control of private companies and charities. Suharto resigned from office after huge protests by Indonesians.
Transparency International had estimated that Suharto had embezzled $15 billion to $35 billion during his 32 years in power. On January 27, 2008, he died of complications from a weak heart at age 86.
In December 2010, Indonesia’s Supreme Court had announced that it had retrieved $307 million from one of the charities established by Suharto


PHILIPPINE

Ferdinand Marcos had served as the president of the Philippines from 1965 to 1986 before he was thrown out through people power revolution. During his dictatorship, the debt of his country had grown from $1 billion to $25 billion. He used offshore bank accounts to channel government funds to his personal accounts.
Reports stated that he had stolen $5 billion to $10 billion from Philippines treasury. His ill gotten wealth was illegally obtained by the takeover of large private companies, government loans to his cronies and kickbacks from private firms.
Only $4 billion was recovered from his ill gotten wealth since he died in exile in Hawaii in 1989.

MALAYSIA 
RM2.6 billion and counting...... 

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