How the Bangko Sentral secures Imelda Marcos’ seized jewelry collection

MANILA, Philippines – It will take more than a break in at the Bangko Sentral ng Pilipinas (BSP) for a thief to snatch the jewelry collection of former First Lady Imelda Marcos 

The Presidential Commission on Good Government (PCGG) said that the three jewelry collections are secured by four locks, whose keys are kept by different government agencies. The facility is secured by armed guards.

The keys are with the PCGG, the Commission on Audit-PCGG, the Bureau of Customs (BOC), and the Office of the President.

The Roumeliotes Collection, which is the most valuable among the three, is secured by the BOC. This was seized from a Greek national named Demetrious Roumeliotes who attempted to flee the country in 1986. 

There are no records showing how much the 60-piece set Roumeliotes Collection is worth.

Meanwhile, the Hawaii and Malacañang Collections are under the PCGG. They were named as such as they were seized in Hawaii and the Malacañang Palace, respectively.

The Hawaii collection was discovered by US customs officials hidden in boxes and bags when the Marcos family landed in Honolulu in February 1986. The Marcos family surrendered the jewelry in exchange for withdrawal of legal actions filed before US courts.

The PCGG valued the Hawaii collection at only P137.5 million, based on a 1991 appraisal. This is much lower than the P1.1 billion estimate of international auctioneer Sotheby’s  made in 2016.

The Malacañang collection’s estimated worth is P202.4 million. – Rappler.com