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Picasso ‘missing’ appeared at Imelda Marcos house – ARTnews.com

Picasso ‘missing’ appeared at Imelda Marcos house – ARTnews.com

 


A Picasso lost years ago may have been seen at the home of Imelda Marcos, the former First Lady of the Philippines, who has been widely accused of corruption.

Marcos’s son, Ferdinand “Bongbong” Marcos Jr., is the supposedly elected president of the Philippines. After an overwhelming victory on May 9, the victory of Marcos Jr. has been greeted with growing concern in the Philippines, where his family previously plundered billions of pesos under his father’s dictatorship.

Following his victory, the Marcos family posted pictures of him visiting Imelda. Hanging on the wall in her home are many works of art, including those that appear to belong to Picasso Lying woman VI (Woman lying down VI) – or perhaps a copy of her – placed on the couch.

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One of the eight paintings intended to be seized by anti-corruption authorities in 2014, it remains unclear whether the painting is authentic.

Some have suggested the painting is indeed real, including Andres Bautista, a former chairman of the Presidential Commission for Good Governance (PCGG), who was set up to recoup funds earned by Marcoses through corrupt means. In one interview with RapplerBautista claimed that the Picasso painting that PCGG had captured was “a fake, it was a tarpaulin, so it’s still with them”.

During his 20-year reign, Ferdinand Marcos Sr. looted up to $ 10 billion. It collapsed in 1986, causing economic instability that is still affecting the Philippines today.

Kur Marcos Sr. was in power, the family poured funds into overseas bank accounts and real estate properties, and bought art, jewelry, and stylist clothes. There are concerns that the family will now use Marcos Jr.’s new position. to stop the recovery of what had been stolen.

Recent reports have shown that PCGG has recovered approximately $ 5 billion from Marcoses. About $ 2.4 billion is pending litigation and even more remains missing. As President, Marcos Jr. would have the authority to appoint PCGG commissioners, which could greatly change the return of any remaining funds.

Currently, Imelda is appealing a 2018 criminal conviction on seven counts of corruption, while the family continues to face dozens of unresolved issues over their assets.

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