Securing 6th order, AMLC freezes P4.67-B assets tied to flood control scam
MANILA, Philippines — The Anti-Money Laundering Council (AMLC) has obtained its sixth freeze order from the Court of Appeals, covering 39 bank accounts and other assets linked to alleged irregularities in government flood control projects.
In a statement Friday, October 10, the AMLC said the latest order includes four insurance policies and 59 real estate properties—residential, commercial and agricultural—some of which are connected to a former high-ranking official "suspected of playing a central role in the procurement process of the questioned contracts."
The new order on the unnamed official's assets brings to P4.67 billion the estimated value of suspected ill-gotten wealth frozen since the Court of Appeals issued the first order on September 16.
To date, authorities have frozen a total of 1,671 bank accounts, 58 insurance policies, 163 motor vehicles, 99 real properties and 12 e-wallet accounts believed to be linked to the alleged corruption scheme.
“We are taking deliberate actions to preserve assets potentially linked to unlawful activity,” AMLC Executive Director Matthew David said in a statement.
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The council is coordinating with the Independent Commission for Infrastructure (ICI), the Office of the Ombudsman, the Bureau of Internal Revenue and the National Bureau of Investigation in reviewing individuals and entities flagged during recent Senate hearings.
AMLC said the coordination underscores the "government’s commitment to a thorough and impartial inquiry” into the alleged misuse of flood control funds, which investigators have linked to ghost and substandard projects amounting to hundreds of billions of pesos.
The agency said additional freeze orders may follow as new leads are uncovered.
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