3 Marcos Cronies Convicted of Graft for 'Behest Loans'

Justice may grind slowly, but grind it does. Three “business associates” of the late strongman Ferdinand Marcos were sentenced by the Sandiganbayan to up to 90 years in prison each for receiving behest loans totalling P36 million from 1972 to 1980. Found guilty of nine counts of violation of the Anti-Graft and Corrupt Practices Act, were Leticia Teodoro, Marfina Singian and Gregorio Singian, all former executives of Integrated Shoes Inc. (ISI). The Presidential Commission on Good Government (PCGG) had identified the shoe company as one of the 419 private firms that were granted “friendly waivers” by the Marcos regime when they applied for billions of pesos in loans from the government, reports Inquirer.net.