Rodolfo T Arambulo

In the large Filipino community of Southern California, California Overseas Bank has for years been nicknamed the "Philippine Bank of Los Angeles" because of its close relations with the Manila regime of former Philippine President Ferdinand E. Marcos. In fact, bank Chairman Roberto S. Benedicto served as the Philippines' ambassador to Japan for six years in the early 1970s under Marcos.

In the large Filipino community of Southern California, California Overseas Bank has for years been nicknamed the "Philippine Bank of Los Angeles" because of its close relations with the Manila regime of former Philippine President Ferdinand E. Marcos. In fact, bank Chairman Roberto S. Benedicto served as the Philippines' ambassador to Japan for six years in the early 1970s under Marcos.

A federal grand jury Friday indicted former Philippine President Ferdinand E. Marcos and his wife, Imelda, on charges that they diverted Philippine government funds to buy millions of dollars' worth of New York real estate in a massive racketeering scheme of fraud, embezzlement, bribery and obstruction of justice. A 79-page indictment charged the Marcoses, Saudi Arabian financier Adnan Khashoggi, seven other individuals and Los Angeles-based California Overseas Bank.

Imelda Marcos, dressed in mourning black and clutching Rosary beads, launched her defense against fraud and racketeering charges Friday alongside international financier Adnan Khashoggi and the ghost of her late husband, exiled Philippine President Ferdinand E. Marcos. The courtroom of U.S. District Judge John F.

In order to avoid federal prosecution, the closest friend and confidant of former dictator Ferdinand E. Marcos has agreed to turn over to the Philippines a Los Angeles bank that federal prosecutors say he created to launder funds for the late Philippine leader, The Times has learned.

A federal grand jury Friday indicted former Philippine President Ferdinand E. Marcos and his wife, Imelda, on charges that they diverted Philippine government funds to buy millions of dollars' worth of New York real estate in a massive racketeering scheme of fraud, embezzlement, bribery and obstruction of justice. A 79-page indictment charged the Marcoses, Saudi Arabian financier Adnan Khashoggi, seven other individuals and Los Angeles-based California Overseas Bank.