P5.2 billion assets in flood control scandal frozen, more expected — AMLC
MANILA, Philippines — The Anti-Money Laundering Council has frozen P5.2 billion worth of assets tied to public works officials and contractors implicated in the corruption scandal of anomalous flood control projects.
During the signing of a memorandum of agreement on Thursday, October 23, the AMLC and the Department of Public Works and Highways (DPWH) announced closer coordination in sharing information for a comprehensive financial review of transactions involving DPWH officials and contractors.
Part of the agreement is to streamline freeze order requests involved in the infrastructure projects being investigated by the DPWH.
AMLC Executive Director Matthew David said assets under six Court of Appeals freeze orders already total P5.2 billion, with the figure expected to rise as more properties and bank accounts are valued.
“Right now as of this morning, it is already valued at P5.2 billion and we’re still waiting for other bank returns and valuation of other properties that were frozen by the six freeze orders,” he said.
David, however, refrained from disclosing the names of public officials and contractors whose assets have already been frozen. All he said was they included DPWH employees, contractors and “their cohorts.” He did not mention any lawmaker.
The first freeze order issued in September involved 26 individuals named in the first petition that the DPWH filed before the Ombudsman. These included former district engineer and assistant district engineers Henry Alcantara, Brice Hernandez, Jaypee Mendoza, and contractors Sarah and Curlee Discaya.
Around the same time, then Justice Secretary Boying Remulla said the freeze orders also extended to lawmakers, including Sens. Joel Villanueva and Jinggoy Estrada, as well as Rep. Elizaldy Co.
By October 21, however, the Department of Justice clarified during a Senate budget hearing that none of the freeze orders had involved any politicians.
Asked whether the AMLC had found red flags in the transactions of implicated officials, David said investigators are still conducting bank inquiries, with around 2,000 accounts already frozen.
“Malalaman natin just after the bank inquiry. Our investigators will submit a report and malalaman natin kung marami na ang na-withdraw,” he said.
(We will find out after the bank inquiry. Our investigators will submit a report and we’ll find out whether they are withdrawing large sums of money.)
The AMLC is examining deposits and withdrawals made since President Ferdinand “Bongbong” Marcos Jr. announced an investigation into flood control projects during his fourth State of the Nation Address.
As for the flow of cash, David said the council is looking into all possible forms of money laundering linked to corruption, bribery, malversation or plunder. Beyond bank transactions, the investigation will also cover property acquisitions.
For cash hidden in residential homes and hideouts, he said the AMLC is coordinating with the National Bureau of Investigation and DOJ to determine how the government could seize pocketed funds.
In September, the DPWH sought to freeze vehicles worth nearly P500 million belonging to individuals linked to the anomalous flood control projects, most of whom were agency officials.
The AMLC is also tracking foreign-based assets while the investigations are ongoing.
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