Pod Insights Scamfluencers Imelda Marcos: The First Lady of Excess Part 2 | 181 About this episode After declaring martial law in 1972, Ferdinand Marcos cemented his dictatorship over the Philippines – jailing opponents, silencing dissent, and amassing untold wealth with his wife, Imelda. But as the country’s economy buckled, the Filipino people pushed back through protests, lawsuits, and international pressure. When Ferdinand’s health starts to decline, Imelda launches a campaign to secure her family’s grip on power – and build a dynasty that will last for generations.
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Transcript 8,131 words · 13 speakers
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0:00 Sarah Hagi? Audible subscribers can listen to all our episodes of Scamfluencers ad-free right now. Join Audible today by downloading the Audible app.
0:13 Scaachi Koul? Sarah, you and I are Canadian, and so we are very familiar with political family dynasties. And Justin Trudeau's dad used to be prime minister, as I know you know.
0:24 Sarah Hagi? Yep. I feel like Americans really don't know that he is a nepo baby in that sense. It's a fun fact to tell them.
0:31 Scaachi Koul? It is fun. What do you think about political nepo babies?
0:36 Sarah Hagi? I think it's a bit twisted. I mean, it's crazy for me to imagine seeing my parent or grandparent go through probably like one of the worst jobs and soul-crushing, morally terrible kind of things you can do and then be like, I'm gonna do it right. I'll be the one to do it, and I'll do it the right way.
0:55 Scaachi Koul? Well, I ask because today, we're talking again about one of the Philippines' most notorious political couples, Imelda and Ferdinand Marcos. Last episode, they made it to the presidential palace, all while stealing, cheating, and lying. Now, their reign is about to be tested by political rivals, civilian unrest, lawsuits, and finally, the rise of their very own nepo baby.
1:24 Scaachi Koul? It's November 1978 in Manila, the capital of the Philippines. Bill Formoso, the assistant editor of The Bulletin newspaper, is working late when someone runs into the newsroom and shouts, "The military is outside." Bill rushes to the window. Trucks are parked out front, and soldiers are storming into the building. His stomach sinks. He knows exactly why they're here. For the past six years, the Philippines has been under martial law, ruled by President Ferdinand Marcos. And tomorrow, The Bulletin is releasing the results of a survey where university students named their heroes. The students ranked Benino Aquino Jr., the jailed leader of the Liberal Opposition Party, above First Lady Imelda Marcos.
2:08 Scaachi Koul? You might remember him from our last episode, he goes by Ninoy. And Imelda must have caught wind of it and thrown a fit.
2:16 Sarah Hagi? Yes, I remember him. He was kind of the opposition who provided a lot of optimism for like, real people in the Philippines. And I am scared for him.
2:25 Scaachi Koul? Yeah.
2:25 Sarah Hagi? Because these people cannot handle someone being more popular than them.
2:30 Scaachi Koul? Yeah, how they're perceived is the most important thing to them. And so Bill can only watch as the soldiers literally stop the presses and gather up copies of tomorrow's paper. But they're too late to get them all. About 300,000 have already been sent out. So the next day, the military forces the paper to withdraw every copy in circulation. Officially, the paper blames printing defect. But Bill and plenty of others know the truth. The Marcoses are erasing any proof of an opposition party, especially evidence that it's actually popular with the Filipino people. They don't want anyone to question their power and authority. But the student survey shows that Filipinos are ready for a change. And that even from a jail cell, Ninoy is the symbol they're
3:15 Scaachi Koul? rallying behind. He's about to make waves that could loosen the Marcoses' iron grip on the country. But Imelda and Ferdinand will do anything to hold on to their power, no matter how deadly the cost.
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5:05 Scaachi Koul? From Wondery, I'm Sachi Cole. And I'm Sarah Hagee. And this is Scamfluencers.
5:18 Scaachi Koul? In our last episode, Imelda and Ferdinand Marcos rose to power in the Philippines. Ferdinand's a smooth-talking politician with a Messiah complex. Imelda, a beauty queen turned first lady who became a force of her own. Ferdinand seized control of the nation in 1972 by declaring martial law. Enemies were jailed, critics were silenced, and the Marcoses lived in luxury while their country crumbled. But now, the Filipino people are fighting back. And through riots, lawsuits, and global condemnation, Imelda will have to do whatever it takes to keep the Marcos family in power and, of course, keep the spotlight trained directly on her. This is Imelda Marcos, the first lady of success, part two.
6:07 Scaachi Koul? It's mid-March 1980, and Ninoi Aquino has been in prison for more than seven years. He's in solitary confinement when he collapses from a heart attack. He's rushed to the hospital, where he suffers a second heart attack. While there, doctors discover a blocked artery that needs immediate attention. But Ninoi doesn't trust the doctors in the Philippines. He thinks they might kill him under Ferdinand's orders. So he refuses their help, and he says he'll only go to the US for treatment. Otherwise, he'll just go back to his cell and die. While he's still at the hospital, Emelda pays him a surprise visit. No aides, no cameras, just the two of them behind closed doors. And no one knows exactly what was said, but soon after, the Marcoses agreed to let Ninoi
6:52 Scaachi Koul? leave the country for treatment. But there are two conditions. He has to come back once he's healed, and he has to keep his mouth shut while he's gone.
7:02 Sarah Hagi? That is so terrifying. Imagine someone with all the power in the world basically coming to you alone and somehow leaving with the type of agreement. I'm actually very confused by this.
7:16 Scaachi Koul? Well, the Marcoses claim they're letting him go as a humanitarian gesture. But Ninoi sees it for what it truly is: damage control. If he dies under the Marcoses' watch, he becomes a martyr, and that is the last thing they want. Ninoi agrees to the terms and leaves on a plane to Dallas that night with his family. Once he recovers from surgery, he stays in the US instead of going back to the Philippines. He also quickly defies the other condition of his pact, too. He begins writing books, giving lectures, and traveling the country, denouncing the Marcoses. He says, quote, "A pact with the devil is no pact at all."
7:54 Sarah Hagi? I totally understand that, and I feel like he's really playing this in a way that is a bit fearless. It is true. They would never hold up their end of the bargain, so why should he?
8:07 Scaachi Koul? Yeah, it's a good point. And then, in December in 1980, Ninoi gets an unexpected summons to the Waldorf Towers in New York. Emelda wants to see him. She says it's to negotiate. Revolutionaries have been setting off bombs in Manila, and the Marcoses believe that Ninoi has been orchestrating the attacks from afar. Ninoi knows her summons is not a request. It's an order. So he goes to New York, and they talk for four hours. Well, Emelda talks. She name drops Reagan, Bush, and Nixon, trying to intimidate him with her powerful friends. And she warns Ninoi that if he doesn't call off the rebels and stop speaking out, there will be consequences. Ninoi listens, and then he leaves.
8:51 Scaachi Koul? Emelda may think her warning worked, but Ninoi won't be silenced by anyone. He knows that one day soon, he'll have to go back to the Philippines. His people deserve better than the Marcos regime. And when he does return, he's gonna fight for them. Consequences be damned.
9:10 Scaachi Koul? A month later, in January 1981, Ferdinand technically lifts martial law. But it seems to be just for show. He unveils a new constitution, one that allows him to run for indefinite terms. He reinstates presidential elections, but of course, there's no guarantee these elections will be fair. He also maintains all powers he's gained over the last eight years. He can still arrest anyone and jail them without trial. He can override the country's legislative body, and he can rule by presidential decree. The dictatorship hasn't ended, it's just been rebranded. At his inauguration, then-Vice President George H.W. Bush gave a toast, saying, quote, "We love your adherence to democratic principles and to the democratic processes."
9:55 Sarah Hagi? Oh, I bet you do, George H.W. Bush. I bet you do. He's never done anything wrong before. None of the Bushes have, in fact. No, I think this is the most important thing in the world to him, I'm sure. Yes, exactly.
10:09 Scaachi Koul? Well, Imelda is still in New York, and she has other priorities. She's fallen in love with some real estate. On a visit to the Crown Building on Fifth Avenue, she decides she has to have the $51 million property. According to court documents, she pleads with Ferdinand to buy it for her, reportedly breaking down in tears until he agrees. But one building isn't enough, she goes on to buy three more. She spends $55 million on 40 Wall Street, which will later be known as the Trump Building. Another $30 million is spent on an office building on Madison Avenue, and $19 million for the retail and office space known as Herald Square.
10:50 Scaachi Koul? Reportedly, she says she wants to make $70 million in profit on these buildings within the next six years, all for her own personal gain. Imelda later tries to rationalize these purchases as strategic investments, a way to link the Philippines more directly to global capitalism. According to her reasoning, New York's role as the world's financial capital, paired with Manila's opposite time zone, meant she could build a nonstop, 24-hour business pipeline between east and west. But nearly every cent of her purchases come from Filipino taxpayer funds, literally from the pockets of people who are essentially still living under martial law back home.
11:32 Sarah Hagi? It's crazy that she has goals, to be honest. Where she's like, "I'm gonna buy this, and then I'm gonna buy this, and then it's gonna be worth this many millions of dollars, and that's my investment." And you're like, "You don't have money."
11:41 Scaachi Koul? Yeah.
11:42 Sarah Hagi? "You do not have money. This is money from other people."
11:45 Scaachi Koul? Listen, she dares to dream. And meanwhile, back in the Philippines, people are growing restless. Public trust in the Marcos regime is crumbling. The economy is sluggish. The annual GDP is on the decline. And more than half of the population is living in poverty. The fantasy that martial law would bring order and prosperity has long since worn thin. But while discontent simmers in Manila, the Marcos's new US investments fly largely under the radar. Most Americans aren't paying attention. And the couple's high-powered friends, including former President Reagan, still see them as close allies, regardless of how they got their power or what they're doing now that they have it. But dissent is spreading.
12:28 Scaachi Koul? And soon, the true cost of the Marcos's luxurious lifestyle will become tragically clear.
12:38 Scaachi Koul? It's around 2 AM on a November morning in 1981, and construction crews are hard at work on yet another Imelda Pep project: the Manila Film Center. This one broke ground in August, and she wants it done by January. That's when she's launching the inaugural Manila Film Festival. She dubbed her event "The Cannes of Asia." And during her recent trip to the States, she invited some of her Hollywood friends, like Robert Redford, Sophia Loren, and Faye Dunaway, to attend. With only four months to build an entire center, crews are working around the clock. Tonight, their job is to pour concrete over the roof. Some of the workers think it's crazy to cover the entire roof in one night. It's too much weight, and if it's poured all at once, the roof could cave in.
13:22 Scaachi Koul? But if they want to meet Imelda's deadline, they have no choice.
13:31 Scaachi Koul? Sure enough, the roof collapses. Dozens of workers are crushed to death or trapped under tons of debris. The remaining workers try to rescue them from under the rubble, but security won't let rescuers or ambulances in for fear of scandal. No help arrives for nine hours. Initially, the death count is at 26, with 41 people injured. But the death toll will eventually grow to 169.
14:00 Scaachi Koul? This is an awful look for the Marcoses. But instead of offering resources to help, they institute a 15-hour news blackout so no one can report on the tragedy. When the censor is lifted, they claim that only three people died and 34 were injured. And they say they're gonna push forward with construction. Imelda says the festival is an international commitment and will help launch Manila as the center of Asia's film market. They can't pause.
14:30 Sarah Hagi? Having people get crushed to death and have that big of a death toll of something that could have been so avoidable, and then on top of that, having a 15-hour news blackout, where they then change the amount of people who have died or have been injured, it's just like, so disgusting. All for what? To be like, "Well, I want the Philippines to be the center of Asia's film world." Like, what?
14:57 Scaachi Koul? Yeah, it's really, really monstrous. And the families of the victims protest in the streets because they want everyone to know the truth about how many men actually die. And even more critically, they want the bodies to be recovered before construction resumes. But Imelda doesn't listen. And reportedly, some of the bodies are literally paved over as she orders new crews to finish the project on time. On opening night, Imelda dances with her friends, the actors George Hamilton and Jeremy Irons. She has multiple outfit changes and wears multimillion-dollar marquee's diamond earrings.
15:36 Scaachi Koul? This casual disregard for the lives and welfare of their people is nothing new for Amelda and Ferdinand. By now, it's been nine years since they declared martial law. And even though it's technically not in effect, life is not normal for people in the Philippines. The regime's been throwing people in jail and torturing and murdering civilians left and right. An estimated 34,000 student leaders, politicians, trade unionists, and writers were tortured. Over 3,000 people were killed and had their bodies dumped in public places. And nearly 400 were simply disappeared. Meanwhile, the World Bank quietly warns of a $2 billion deficit in the Philippines. The peso has collapsed.
16:21 Scaachi Koul? Food is scarce, prices are high, and wages haven't budged in years. But for the first time, the poorest citizens start pushing back. In Manila's slums, they literally start putting up barricades around their neighborhoods to keep Amelda and her beautification projects out. Amelda still believes in the power of image, but even she can feel that the tide is turning. And an old enemy is about to return, one she and Ferdinand thought they'd gotten rid of for good. It's August 1983, and Nino Yacino is on a plane back to the Philippines. He left his wife and kids in the US where they're safe. But after hearing about the growing unrest in Manila, he's decided it's time to return home.
17:06 Scaachi Koul? He wants to fight alongside his people, for his people. He's also heard that Ferdinand is suffering from lupus, an autoimmune disease where the body starts attacking its own healthy organs. So Nino wants to speak to him before it's too late. Ferdinand is a dictator, but Nino believes there's at least a chance that he can reason with him to restore democracy. But if Ferdinand dies and his extremist generals take over, it would likely spell the end of democracy in the Philippines.
17:35 Sarah Hagi? At this point, Ninoi knows his options and what is likely to happen. I don't know what else he could do because it's true. Ferdinand dies, someone else will take over and it won't be Ninoi. But also, there is so much risk here for Ninoi himself, where it's getting increasingly dangerous to be as popular and defiant as he is, right?
17:57 Scaachi Koul? Yeah, Ninoi knows he's probably signing his own death certificate. Just three months earlier, when Imelda had been on one of her New York shopping trips, she offered him a $1 million bribe to stay in the States. When he turned it down, she warned Ninoi of assassination plots against him. But he decided he's willing to take that risk. Now, there are journalists on the plane with him documenting his mission. He tells them to have their cameras up and ready because the action can come fast. Here he is on ABC News, speaking to reporters.
18:30 Speaker 05 It's my fate to die by an assassin's bullet, so be it. But I cannot be petrified by inaction or fear of assassination and therefore stay in a corner. I have to suffer with my people. I have to lead them because of the responsibility given to me by our people.
18:48 Scaachi Koul? The plane lands at Manila Airport and Ninoi says a quick prayer. His supporters are outside, and so are the Marcoses' soldiers. The uniformed men board the plane and arrest Ninoi instantly. They escort him onto the tarmac where a military vehicle waits, presumably to take him to prison. But before he ever makes it to the car, gunshots are fired. It's not clear from where or by whom, but by the time the firing stops, Ninoi is dead.
19:19 Scaachi Koul? To this day, we don't know who ordered Ninoi's assassination. In the immediate aftermath, many Filipinos speculate that it was, in fact, Imelda. They say she conspired with a top general when Ferdinand was too sick to give the order. Later investigations conclude that it was a plot by the military, but Imelda played no part in it. Either way, Ninoi's death does what he couldn't do in life. It lights a fire amongst members of the opposition. There was social unrest before, but now it's at an all-time high. The people are angry, and they're coming for the Marcoses.
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21:41 Scaachi Koul? It's November in 1985, a little over two years since Nino's assassination. And Ferdinand makes a surprising move. He goes on American television and announces that he's holding a presidential election in February. The Philippines hasn't had an election since Ferdinand declared martial law 13 years ago, so this is huge. He says it's to dispel any doubts about his regime's legitimacy and authority. According to Ferdinand, the people want him in office, and he's gonna prove it. He might be a dictator, but he doesn't want to be seen as a dictator. But the election is all for show. With only three months to prepare, he's not giving the opposition much of a chance. And he isn't expecting a strong opponent from the other side.
22:24 Scaachi Koul? Nino is dead, and no one's quite filled his shoes. But then, the people rally behind someone unexpected: Nino's widow, Corazon Aquino. Cory, as she's known, is 52, often sporting aviator eyeglasses and dressed in yellow, the color of the anti-Marcos movement. At first, she doesn't want to run. She's never been involved in politics herself, but 1 million Filipinos sign a petition encouraging her to take up the mantle. So she does. In December 1985, she announces her candidacy in a speech preserved by the Associated Press.
23:02 Speaker 08 Recalling once more Nino's words, I will never be able to forgive myself if I will have to live with the knowledge that I could have done something and I did not do anything. And with the thought that I can make even just a modest contribution to the restoration of a sense of hope to our troubled land, I hereby affirm my candidacy.
23:34 Sarah Hagi? Wow. A part of me would be like, maybe it should be someone else. This woman has been through a lot, and clearly, you know, she's also a target. But also, it must take a lot of bravery to be able to even make this speech for your people.
23:51 Scaachi Koul? Yeah, she seems really noble and brave, and Ferdinand can't have that. He and Cory immediately start trading barbs in the media. He criticizes her for being a woman, and even has the audacity to say that her place is in the bedroom. In response, Cory calls Ferdinand out for his hypocrisy, because everyone knows his wife, Imelda, is running the show. Cory eggs him on, saying, quote, "May the better woman win." Ferdinand then criticizes Cory's lack of experience. She responds sarcastically that, yes, she has, quote, "No experience in cheating, lying to the public, stealing government money, and killing political opponents."
24:31 Sarah Hagi? Oof, bars. Damn, that is a bar. And, man, she's awesome for that.
24:40 Scaachi Koul? Yeah, it's pretty good. So Ferdinand, once again, turns to Imelda to help persuade the public. She criticizes Cory for not wearing makeup or having her fingernails manicured. Imelda says, quote, "All Filipinos who like beauty, love, and God are for Marcos." But the Marcoses aren't as popular as they were the last go-around. By the time February arrives, Cory has a ton of support, probably more than Ferdinand. But we'll never know, because Ferdinand reportedly tampers with the vote count and declares victory. Cory fights back, claiming she won and the election was rigged, and her supporters pour into the streets in protest. Ferdinand hoped the campaign would prove that the people of the Philippines still adore
25:25 Scaachi Koul? him and Imelda. Instead, it just reminded them of how corrupt the Marcoses had become. And after years of being ripped off, the Filipino people are finally ready to take their protest all the way to the presidential palace itself. On February 25, 1986, crowds surround the presidential palace, but the Marcos family inside. It's been three days since protests first broke out after the fraudulent election, but tonight, they've reached a new level. The protesters have almost broken through the gates, security has fled, and there's nowhere for Imelda and her family to go. This might finally be the end for the Marcos family. Ferdinand has been on the phone with the US all night, pleading with Reagan aides to
26:09 Scaachi Koul? be allowed to stay in power, even in an honorary role. But they tell him no, and that they'll only offer him safe haven if he resigns peacefully. Imelda calls the US Embassy to plan their escape. She, Ferdinand, and their kids gather their most precious belongings and cram into a helicopter, fleeing the Philippines for Hawaii.
26:29 Scaachi Koul? They leave behind a palace in chaos. Uneaten caviar on the dining table, documents half shredded, and luxury items strewn about. Protesters flood inside to see the couple's extravagance for themselves. And what they find is extreme. A multimillion-dollar jewelry collection, secret records of offshore bank accounts, and more than 1,000 pairs of Imelda's shoes. Although news of this line item will get exaggerated, the number most people remember now is 3,000 shoes.
26:59 Sarah Hagi? Oh my god. I mean, what's a couple more thousand? Would I be counting? I don't know. Would I be taking? If we're the same size, yeah.
27:08 Scaachi Koul? Oh yeah, you should be so lucky. Well, the chopper out of the Philippines may have saved the Marcoses' lives, but it also exposed their crimes. Customs records show the Marcoses brought $15 million worth of assets with them to Hawaii. Jewelry, gold bars, designer clothes, and suitcases stuffed with freshly-printed Philippine pesos. And this was just a fraction of their true fortune. In the years to come, investigators estimate that Ferdinand, Imelda, and their cronies stole upwards of $10 billion from the Philippine people. Given Ferdinand's modest presidential salary of $13,500 a year, the Marcoses' wealth stood in stark contrast to most Filipino people's reality.
27:52 Scaachi Koul? The truth was impossible to ignore, particularly in a country where nearly half the population was scraping by on less than $2 a day. The fall of the Marcoses isn't just the collapse of a dictatorship. It's the unmasking of one of the most audacious heists in history. But it'll take years and multiple investigations to unspool the web Imelda and Ferdinand spun. In the meantime, no amount of evidence or public shaming will stop Imelda from playing the victim to get what she wants.
28:25 Scaachi Koul? After the Marcoses flee, the people of the Philippines named Cori Aquino as the rightful winner of the election. And she steps into power as the new president. She wastes no time confronting the scale of corruption left behind. Her very first executive order creates the Presidential Commission on Good Government, or the PCGG. The agency has one mission: to recover the billions that Imelda, Ferdinand, and their inner circle stole from the Filipino people. For the first time in 14 years, Filipino newspapers are free to publish information about the Marcoses' grift. When Cori learns that the Marcoses fled to Hawaii with stolen money, she makes her second executive order. She freezes all of the Marcoses' assets in the Philippines,
29:10 Scaachi Koul? and she does the same to 32 of their known associates.
29:15 Scaachi Koul? While the world fixates on Imelda's shoe collection, the PCGG digs into her and Ferdinand's hidden bank accounts, shell companies, and vast global web of stolen assets. They find evidence that Ferdinand took more than $2 million from Manila Airport funds to use in his reelection campaign. There are also rumors that Ferdinand planned on spending more than $60 million on upcoming US Republican campaigns to curry favor with the Reagan administration. But the PCGG knows that bringing criminal or civil charges against the former first couple won't be easy. Ferdinand and Imelda intentionally made their theft complex and hard to understand. The PCGG finds it almost impossible to entangle what were legitimate investments
29:59 Scaachi Koul? and what was fraud.
30:02 Sarah Hagi? This is so insane for Cori. Her husband dies. She takes on this dictator. Now she's a leader, and this is the mess she's left with.
30:14 Scaachi Koul? Yeah, she has a lot of really hard work ahead of her. But with the help from a few former loyalists, investigators begin to uncover the true scale of the Marcoses' empire. Meanwhile, Imelda and Ferdinand can only watch from Hawaii as their adversaries try to take them down. The couple's Swiss accounts are frozen, and they suddenly have no access to their money. Court cases soon follow. And in December 1986, the Philippine government files an $850 million lawsuit against Ferdinand and Imelda, plus 10 of their business associates. They claim the Marcoses used stolen funds to buy $350 million of prime New York real estate. And the PCGG wants the US courts to declare the Philippine government
30:58 Scaachi Koul? the rightful owner of the properties. The PCGG is hot on the trail. And soon, the chase will land Imelda in a Manhattan courtroom. It seems like the time has come for Ferdinand and Imelda to face consequences for their actions. But fate has other plans.
31:19 Scaachi Koul? It's October 1988 in Manhattan, and Imelda steps out of a limousine in front of New York's federal courthouse. She's wearing a floor-length turquoise traditional Philippine dress. News reporters crowd the car, protesters shout "thief" into Galog, and a photographer yells, "Hey, Imelda, let's see your shoes." Imelda ignores him, but halfway up the courthouse steps, she turns and waves to the cameras. Imelda is in New York for an arraignment hearing. She and Ferdinand face charges of racketeering, conspiracy, obstruction of justice, and mail fraud. They're accused of looting more than $200 million from the Philippine Treasury and funneling it into art, jewels, and Manhattan real estate. Ferdinand is too sick to appear in court,
32:03 Scaachi Koul? so his hearing is postponed. Imelda has to answer for their alleged crimes without him. Of course, she thinks this is all ridiculous. Can you read what she tells Time Magazine?
32:13 Sarah Hagi? Sure. She says, "Shoes, frivolity. Marie Antoinette. In the Philippines, I built houses for 30,000 slum dwellers. I planted 80 million trees around Manila, and they only talk about the shoes." To me, I'm like, I don't really care if she even did those good things because she spent most of her time being pretty evil. Like, evil people are capable of doing a couple of good tasks. You know, like, who cares? That is what people talk about because the shoes are crazy.
32:43 Scaachi Koul? Yeah, and that seems newsworthy. But as much as Imelda proclaims her innocence, she still has to defend herself. And with no fortune at her disposal, she turns to an unlikely source for help: her friend, tobacco heiress Doris Duke, who posts Imelda's $5 million bail. Less than a year later, in September 1989, Ferdinand dies in Hawaii at 72 years old. His death changes everything for the trial. He was the main target of the investigation. Imelda was more of a co-conspirator. The prosecution had strong evidence against Ferdinand, including documents and witnesses ready to testify about his bribes and kickbacks. But their case against Imelda was weaker.
33:25 Scaachi Koul? They could show that she most likely knew that the money was from corrupt sources, but their evidence against her is circumstantial. There are also rumors that the US government is telling prosecutors to take it easy on Imelda. They don't want to embarrass the last five presidents who all supported the Marcos regime.
33:43 Sarah Hagi? I totally get that because the US doesn't want to be implicated in anything, right?
33:48 Scaachi Koul? I mean, would you want to be implicated after all of that?
33:51 Sarah Hagi? No, I'd be like, I bet she probably didn't do anything that bad.
33:55 Scaachi Koul? Well, Imelda describes the trial as political persecution. In July 1990, after a 10-week, high-profile trial, the jury makes a decision. Imelda clutches her rosary beads and stares at the ceiling as the verdict is read out: "Not guilty on all counts." She weeps with joy as supporters in the gallery cheer. The jurors couldn't be sure of Imelda's guilt. It's possible she had no idea what her husband was doing. And some of them felt like the case should have been tried in the Philippines instead of New York. They didn't live under the Marcos regime, and they didn't think it was their place to judge. After her acquittal, Imelda goes to St. Patrick's Cathedral
34:37 Scaachi Koul? and walks down the aisle on her knees as a sign of devotion. Later that night, she celebrates at a fancy restaurant, eating lamb while a belly dancer performs. But Imelda's victory in court is only the beginning. She's not content with survival. She's ready for a comeback. And now she's setting her sights on returning to the Philippines and reclaiming power for the Marcos name.
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36:04 Scaachi Koul? In 1991, after five years of exile in Hawaii, Imelda decides it's time to return to the Philippines. It's a dangerous decision. Cory is still president and has made it clear that if Imelda returns, she'll face justice for embezzling public funds. But Imelda goes anyway. She sees a window of opportunity to seize power again, and she wants to take it. She tells the world that she's going home so she can bury Ferdinand in the Philippine Heroes Cemetery, as is custom for former presidents. She leans into the role of grieving widow who simply wants to honor her husband.
36:41 Scaachi Koul? When she lands at Manila Airport in November 1991, supporters welcome her with open arms. Not much has changed in the Philippines under Cory's rule. Yes, there's freedom of the press and a constitutional democracy is back in place. But Cory's become more of a figurehead. She doesn't seem to enjoy the political fighting needed to make real change. And in the absence of strong leadership, the economy is failing. There's still corruption in the government and the daily lives of poor Filipinos are more or less the same. Some Filipinos long for the days of the Marcoses, when at least the price of coconuts, one of the region's biggest exports, was higher. So when Imelda returns, there's excitement.
37:23 Scaachi Koul? Here's a picture of her being welcomed in Ferdinand's hometown.
37:27 Sarah Hagi? Oh my god, it's iconic. She's in a bus, she's leaning out of the front window, her arms up, and she's like, I guess, waving a handkerchief. And there are people to the side who are screaming for her. Well, beside her is these two guys on a motorbike. You could tell it's really her return. And also, it's perfect circumstances for her to come back. People's memories can be so terrible, right?
37:53 Scaachi Koul? People's memories are short, and she is very glamorous, Sarah. Imelda sidesteps accountability for her actions by shifting the spotlight to her family's grief. And she seems even more sympathetic when Cory denies her request to bury Ferdinand in the national cemetery. Cory makes it clear that Ferdinand Marcos is no hero, and Imelda won't walk away unpunished. Cory makes sure that Imelda faces prosecution. In 1993, a jury of Filipinos convicts Imelda of criminal corruption. But she doesn't seem too phased by it. She appeals the decision, all the while shoring up support for the Marcos myth. She actually gets elected as a congresswoman in Letay, an island south of Manila.
38:36 Scaachi Koul? It's a truly baffling full-circle moment. Even after Imelda has done so much wrong, people still seem to trust that she'll do right by them. And then, sure enough, the Philippine Supreme Court overturns her guilty verdict, saying that the original court had committed due process errors.
38:55 Sarah Hagi? Stop.
38:57 Sarah Hagi? Are you kidding me?
38:59 Scaachi Koul? Yeah, man.
38:59 Sarah Hagi? It's just like nothing happened at all. Oh my god.
39:04 Scaachi Koul? Yeah, it's like it didn't even matter. And for the next two decades, Imelda spearheads a political revival that astonishingly puts the Marcoses back at the center of Filipino life. She serves as a politician herself, and her daughter is elected governor of a province in northern Philippines. Her son, Bong Bong, has even bigger aspirations. He believes Ferdinand was a great president and wants to emulate him. Bong Bong runs successfully for governor, representative, and senate. In 2016, he loses his campaign for vice president, but Imelda is not dissuaded. In 2018, Imelda is finally convicted of seven counts of graft, basically political corruption.
39:46 Scaachi Koul? In her case, it was for creating fake companies and foundations to hide the money that she and Ferdinand had stolen from the government. But at 89, the courts decide she's too old to go to prison. So once again, Imelda escapes real punishment. And yet, despite scandal, exile, and conviction, the Marcos family is back in the halls of power. The question is no longer if they'll return, but how far they can go.
40:17 Scaachi Koul? It's May 2022, and Bong Bong is throwing a victory party. He's 64 at this point and finally running for president. Imelda's most likely at the celebration, too. It's in a plain, nondescript room with fairy lights strung across the crackling tiled ceilings that you'd find in a classroom. If you didn't know better, you'd think Bong Bong was a very humble guy. But there are multiple billionaires in the room, and they're presumably counting on Bong Bong's presidency to benefit themselves. Bong Bong's actually getting a little ahead of himself here. He hasn't technically won yet, but he knows he will. The daughter of current president Rodrigo Duterte is running as Bong Bong's VP, giving them an implicit endorsement from the sitting president.
41:00 Scaachi Koul? The Marcoses and the Duterte's have a lot in common. Duterte is a populist leader, often called the Donald Trump of the East. He's popular, but brash, offensive, and deadly. While in office, he ran a brutal war on drugs, where he encouraged citizens and police alike to murder suspected drug dealers and users. The death toll from these orders is hard to pin down, but it's somewhere between 6,000 and 27,000. In 2025, Duterte would be arrested for crimes against humanity stemming from this campaign.
41:34 Scaachi Koul? But in this election, the Marcoses aren't leaning into Ferdinand's history as a dictator. In fact, they're whitewashing his presidency. In online campaigns, narratives are getting pushed that are blatantly false, like the idea that there were no arrests made under Ferdinand's martial law, or that the Marcoses never face lawsuits. There are also rumors that the Marcoses have huge stashes of gold that they're going to give to Filipinos if Bong Bong wins.
42:01 Sarah Hagi? This is so depressing. This is deeply, deeply depressing, and I can't believe we're basically almost at present.
42:12 Scaachi Koul? Yeah, we basically are. And Sarah, the whole undertaking works. Bong Bong ends up getting 58% of the vote, a margin of victory that hasn't been seen in the Philippines since his father's regime. To critics, it raises uncomfortable questions about misinformation, about how history is remembered, and even about the integrity of the election itself. Despite all the horrors that Imelda and her late husband inflicted on the Philippine people, it seems like enough of them are ready to forgive and forget. With Bong Bong's election, the Marcoses have secured a new legacy for their family and the Marcos name. Bong Bong idolizes his late father, and now, as president, he's about to follow in his footsteps.
42:58 Scaachi Koul? As of 2025, the PCGG is still fighting to recover the money the Marcoses stole from the Philippines. To date, they've only recovered about $3.4 billion of the estimated $10 billion. Bong Bong Marcos is still president of the Philippines and will continue to serve until 2028. And his mother, Amelda, is right there by his side. And Ferdinand did finally get his burial in his home country, thanks to President Duterte. The Marcoses were, and continue to be, an example of opulence built on the backs of ordinary people. And no one embodied this more than Amelda. She claimed to value love and beauty above all else, even once calling herself "the mother of the Philippines."
43:41 Scaachi Koul? But she never truly saw her people. Maybe she would have found some empathy if she'd stepped into their shoes. But with a thousand pairs of her own, she never bothered to try on anyone else's.
43:54 Scaachi Koul? Haggy, Sarah Haggy. Does this episode make you want to do political crime? Please discuss.
44:03 Sarah Hagi? It really is kind of insane when the scammer wins. She was always gonna have a mark on the world. I think she was clearly very driven, very smart. It's just very interesting to see someone use that exclusively for harm.
44:21 Scaachi Koul? Not a lot of redeeming qualities from Amelda. The thing that I keep thinking about a lot with this case is the depth of greed. The amount of money they stole is an impressive amount of money in an American context. But that is a crazy amount of money from a really small country that has a really poor population and not a huge GDP. At a certain point, what could you fucking buy for $10 billion? Relax.
44:46 Sarah Hagi? It really is just greed in its purest form, where nothing matters at all, therefore, why not just go all the way? It's a bottomless pit at that point. And people don't matter. And it's so sick. Money is so sick and evil.
45:00 Scaachi Koul? Ultimate nepo baby story.
45:02 Sarah Hagi? It really is. Stuff like this really makes you think about why people... Trust dynasties and legacies. Just because one person did it means you're going to trust the other people who are just happened to be born around them, or you know what I mean? I don't really think of someone having a father or coming from a political family to mean anything significant. If anything, it's like, no, give me someone who's actually lived in reality. How about that?
45:29 Scaachi Koul? I guess it is really a testament to how much name recognition works for voters. People really will vote based off of who they know and who they recognize. I mean, the Kennedys are a great example of that. Like, there are some reasonable Kennedys and some kind of centrist, not reasonable Kennedys. And then there's RFK fucking Junior, who's like, my brain is full of worms.
45:50 Sarah Hagi? Yeah.
45:51 Scaachi Koul? It really, you get a lot of clout from having a name that people can recognize. It's not surprising that that would happen in a country like the Philippines, which is kind of small.
45:58 Sarah Hagi? I don't know. It is, it really isn't something that I see as appealing, but it kind of ruins the world. Like, this is one of those stories that makes you think about like, privilege and access in a way where you're like, wow, this is really the worst-case scenario for that.
46:13 Scaachi Koul? Yeah. Ferdinand is clearly the person responsible for a lot of this crime, right? But obviously, because Amelda's a woman and because her purchasing is like much more interesting, she kind of becomes the icon for what happened here. But do you hold her as responsible as you would hold her husband?
46:31 Sarah Hagi? Yeah, for sure. This isn't like some type of woman in the background. Like, she orchestrated this as well. It was by her design. It was encouraged by her as well. They were very much a team, it seems. It's also crazy thinking about her origins, how she was raised. Didn't grow up with money. She was poor and everything, and like, how easily that is forgotten. And yeah, I mean, she's just not a victim at all.
46:54 Scaachi Koul? I feel like Amelda Marcos would have really fit quite well on like a Real Housewives franchise. This is so Erica Jane. This is so Jen Shaw. Can't you imagine Amelda trying to defend herself and then taking in a deep breath and being like...
47:11 Scaachi Koul? Gong Gong's car flipped over when he was driving.
47:13 Sarah Hagi? Yes. It's like, you know, she clearly wanted fame and power by any means necessary. And I wish there should just be like a system people can be put into if they want to be famous, no matter what.
47:24 Scaachi Koul? Like a jail, but not a jail, like a caged in.
47:28 Sarah Hagi? Yeah, like.
47:28 Scaachi Koul? Enclosure, which is BravoCon. What I'm describing is BravoCon.
47:32 Sarah Hagi? Yeah. What if we put them all in a conference room in Vegas for like a couple of weeks, let them dry out?
47:36 Scaachi Koul? And they just get attention that they want and.
47:39 Sarah Hagi? Yeah, and then maybe they won't do fraud.
47:41 Scaachi Koul? I think the lesson is that there are evil people everywhere. There are evil women everywhere, and we may as well reward them in places where it's safe, which is why I am going to watch four hours of Bravo when I get home until my eyes bleed, because that feels like a less morally repugnant way for me to reward some of the worst personalities on the face of the earth.
48:02 Sarah Hagi? Speak on that, yes. You know, thank you for saying that because like I do think there are lesser evils that stop us from bigger evils. And I think maybe Bravo is one of them.
48:16 Scaachi Koul? I'm good with the lesser evil. Take the lesser evil, everybody.
48:19 Sarah Hagi? Like, who knows how much worse it could get? It's, in a sense, harm reduction, really.
48:22 Scaachi Koul? Yeah, I don't need to know what Luann is like if given real power. Keep her in cabaret.
48:28 Sarah Hagi? I don't need to know what Ramona Singer could have done.
48:31 Scaachi Koul? Ramona Singer on a super PAC? No need. Keep her on the show. Women belong on the television, not in the bedroom.
48:47 Scaachi Koul? Follow Scamfluencers on the Audible app or wherever you get your podcasts. You can listen to all episodes of Scamfluencers ad-free by joining Audible.
48:56 Sarah Hagi? This is Imelda Marcos, the first lady of excess, part two. I'm Sachi Cole. And I'm Sarah Haggie. If you have a tip for us on a story that you think we should cover, please email us at [email protected] .
49:09 Scaachi Koul? We used many sources in our research. A few that were particularly helpful were The Rise and Fall of Imelda Marcos by Carmen Navarro-Pedrosa, Waltzing with a Dictator: The Marcoses and the Making of American Policy by Raymond Bonner, and Lauren Greenfield's documentary, The Kingmaker. Alex Burns wrote this episode. Additional writing by us, Sachi Cole and Sarah Haggy. Olivia Brierley is our story editor. Fact checking by Gabrielle Drolet. Sound design by James Markin. Additional audio assistance provided by Augustine Lim. Our music supervisor is Scott Velazquez for Freeze on Sync. Our managing producer is Desi Blaylock. Our senior managing producer is Callum Pluse. Janine Cornolo and Stephanie Jens are development producers. Our associate producer is Charlotte Miller.
49:53 Scaachi Koul? Our producer is Julie McGruder. Our senior producers are Sarah Enni and Ginny Bloom. Our executive producers are Jenny Lauer-Beckman, Marshall Louie, and Aaron O'Flaherty. For Wondery.
50:12 Speaker 11 Hi, I'm Kenya Paris.
50:13 Speaker 12 And I'm Malcolm Gladwell. We're back for season two of our Audible original podcast, The Unusual Suspects.
50:20 Speaker 11 We'll sit down with extraordinary guests from the worlds of art, film, literature, comedy, and wellness to hear from their unexpected stories of success.
50:27 Speaker 12 And who do we have this season? Well, we'll talk with Grammy-winning artist Anderson Paak, athlete Rich Roll, portrait artist Amy Sherald, Oscar-winning director Ron Howard, legendary writer David Sedaris, and many more. These conversations are more intimate than last season, wouldn't you say?
50:43 Speaker 11 I would. Listen to season one of The Unusual Suspects wherever you get your podcasts, and sign up for a free trial Audible to listen to season two in the Audible app or by subscribing to Apple Podcasts.
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