How the “world’s richest girl” bailed out Imelda Marcos.

Mrs. Imelda R. Marcos welcomes Ms. Doris Duke in a dinner and Philippine folklore song and dance presentation at the Waldorf Astoria hotel in New York City. Photo Credit: Ramon Lopez via Flickr.

Tobacco heiress Doris Duke was known for two things: Her wealth and philanthropy. The only child of American Tobacco Company president James Biddle Duke, Doris earned the title “the richest girl in the world” when her deceased father left her a fortune in 1925.

We all know that Imelda Marcos likes befriending socialites and heiresses, so it should come as no surprise that Doris Duke was included on her list. A friend of the heiress said that Duke had traveled to the Philippines during the Marcos era and came back with only nice things to say.

To cut the long story short, Duke considered Marcos as her pal and vice versa.

Now back to Imelda Marcos. In 1988, the Marcoses and eight other defendants were facing racketeering charges in the US. They were accused of fraud and embezzlement of hundreds of millions of dollars worth of Manhattan real estate.

With billions stored in their bank accounts, the Marcoses could easily afford the $5 million bail. But here’s the catch: The authorities froze most of their assets.

This is when Doris Duke came to the rescue. She believed her old friend didn’t commit any crimes so she agreed to post $5 million dollars worth of municipal bonds for Marcos. However, she didn’t offer it for free. On her will, Duke authorized her executors to recover all the money she was owed once things go back to normal in the Philippines.