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Mobbed by his friends, many in tears, Philippine President Joseph Estrada moved out of the presidential palace Saturday and sailed away under police escort in a river patrol boat to his suburban villa.

His departure ended a week of extraordinary public protests over his alleged misappropriation of public funds and a presidency that was run from midnight drinking sessions with a “kitchen Cabinet” of buddies and relatives.

The 63-year-old former matinee idol, trying to appear relaxed and smiling in adversity, was leaning on the shoulders of his son Jinggoy, the mayor of the suburb of San Juan.

The two fought their way through newsmen and some old friends who had come to bid farewell to the man who became notorious for his womanizing, his liberal ways of doling out jobs and cash, and his extravagant lifestyle as president.

But, in a final defiant statement, Estrada, ousted by a popular protest after charges of corruption were blocked by a Senate vote last week, said he had “serious doubts” about the legality of a swearing-in ceremony of his vice president, Gloria Macapagal-Arroyo.

In a bizarre chain of events as surreal as this tropical island archipelago, Arroyo, 52, was sworn in 30 minutes earlier as the nation’s new president. The ceremony took place at a city roadside and was performed by the country’s chief justice.

The diminutive new president immediately said that her government would be based on moral principles and that no deal had been made with Estrada to erase criminal charges he may face over allegations that he defrauded the nation of millions of dollars, accumulated reportedly through kickbacks from illicit gambling rackets.

“There has been no deal, no pardon, and he will be prosecuted,” the new president said at an impromptu press conference.

Late Saturday, government ombudsman Antonio Desierto announced he would immediately start an inquiry to bring Estrada and 18 others, including the former president’s wife and son, to trial on charges of economic plunder. Desierto said the charges could carry the death penalty.

Estrada is accused of stashing millions of dollars in four fake bank accounts. He allegedly obtained the money from kickbacks of illegal gambling rackets and tobacco excise taxes.

Earlier Saturday, More than 70,000 festive Filipinos had besieged Malacanang, the presidential palace where Estrada has been holed up with his last loyal followers and family since the chief of police and the armed forces commander told protesters Friday that they would no longer support his administration.

At one stage, the impatient crowd, waiting for Estrada to leave, broke through a police barricade. But troops and police managed to stop the mob from climbing over the fence into the sprawling grounds of the palace.

Smiling and waving, Estrada–playing the most important role of his two-year presidency–walked under police escort with his wife, Luisa, to a river patrol boat. The vessel slowly moved down river with the ousted president standing on the railing and waving to crowds.

Most spectators booed, but some of the ragged slum dwellers who adored him for his movie roles and his vow to help them out of poverty cheered loudly.

Some openly wept, and several old women managed to break through the security cordon and hug the man who obtained an election victory two years ago on the vote of the poor.

In his final statement, Estrada said he was leaving the palace because his successor already had been sworn in:

“It is for this reason that I now leave Malacanang Palace, the seat of the presidency of this country, for the sake of peace and in order to begin the healing process of our nation.”

But the written statement added that Estrada had “strong and serious doubts” about the legality and constitutionality of Macapagal-Arroyo’s proclamation as president, as did many other legal minds.

Macapagal-Arroyo was sworn in following a Supreme Court ruling that declared the post vacant. Estrada did not resign initially but had asked for five days to put his affairs in order. His request was denied by Macapagal-Arroyo.

“I do not wish to be a factor that will prevent the restoration of unity and order in our civil society,” Estrada’s statement said.

“I leave the palace of our people with gratitude for the opportunities given to me for service to our people. I will not shirk from any future challenges that may come ahead in the same service of our country. I call on all my supporters and followers to join me in the promotion of constructive national spirit of reconciliation and solidarity.”

Estrada, who is not articulate at his best, often has issued statements instead of making speeches.

The turbulent scenes outside the palace, with crowds yelling “Resign,” brought back memories of the day 15 years ago when dictator Ferdinand Marcos and his wife, Imelda, fled from the same palace after a popular uprising that was tabbed People’s Power was joined by defecting military troops.

Like the disgraced Marcos couple, Estrada was ferried by boat away from the palace and across the river, where a waiting motorcade took him to his home in the affluent suburb of San Juan. He has lived in a sprawling mansion that once had served often as the site for Roman-style eating and drinking orgies.

The Marcoses flew into exile to Hawaii after an uprising led by Corazon Aquino. In almost a duplication of the events of 1986 that moved the world, hundreds of thousands of people went into the streets again last week to clamor for the resignation of a president who is simply known as Erap, a nickname for the local word for buddy.

Marcos’ widow, Imelda, whose enormous shoe collection became an infamous focal point of her husband’s fall from power, has been one of Estrada’s main supporters.

Unconfirmed reports from the political opposition said Saturday that Estrada may fly to temporary exile in Australia. Close associates of the fallen president said, however, that Estrada would not leave the country voluntarily.

“He was booted out of office by the Supreme Court; he never resigned,” political analyst Abby Tan insisted. “I don’t think he will leave the country.”