MANILA — In a major escalation of an anti-money laundering probe, the Court of Appeals has ordered the freezing of more than a thousand bank accounts allegedly linked to Construction Workers Solidarity (CWS) party-list’s Cong. Edwin Gardiola, after investigators flagged billions of pesos in transactions that authorities said far exceeded his declared financial capacity.
The freeze order was issued following a petition by the Anti-Money Laundering Council (AMLC), which cited what it described as glaring inconsistencies between Gardiola’s statements of assets and liabilities and the massive cash flows coursing through accounts tied to him and several firms reportedly owned by his family.
Based on the AMLC petition, the accounts placed under freeze include 55 in Gardiola’s name, 756 under Newington Builders, 325 belonging to S-Ang Construction and General Trading, and 57 associated with Laurel Development Corporation, according to a report by Bilyonaryo News Channel.
An AMLC review found that the scale and frequency of the transactions could not be reconciled with the lawmaker’s lawful income as a member of Congress.
“The AMLC argued that the level of inflows and outflows are grossly disproportionate to his financial profile and the scale of deposits and checks issued and cleared cannot be justified by his legitimate source of income,” the agency said.
Investigators also flagged Newington Builders for alleged irregularities, saying its financial records appeared to conceal actual transactions.
“The AMLC concluded that these discrepancies clearly suggest that Newington is deliberately concealing its transactions, which raises doubts as to the legitimacy of the sources of their funds and its intentional omission to correctly record its transactions is a blatant attempt to evade authorities,” it added.
Citing 2023 data, the AMLC said around P13.5 billion flowed into Newington Builders’ bank accounts, while the company’s audited financial statements reflected only P3.5 billion in reported sales for the same period.
The freeze order comes amid renewed scrutiny of companies allegedly linked to Gardiola that were reported to have secured large government infrastructure projects after he assumed office in Congress. Within a three-year period, three firms reportedly owned by the Gardiola family were said to have obtained P30.1 billion worth of projects from the Department of Public Works and Highways, including flood control initiatives.
Former Mataasnakahoy, Batangas mayor Jay Ilagan has also claimed that the wealth attributed to other figures involved in flood control projects was eclipsed by assets allegedly connected to Gardiola.
Ilagan cited several high-value properties reportedly associated with the lawmaker, including a seaside mansion in Club Punta Fuego in Nasugbu, Batangas; a large property at Malarayat Golf and Country Club; a residence in Forbes Park; and another mansion in Mataasnakahoy.
Gardiola has further been named in a list earlier submitted by the Independent Commission for Infrastructure and the DPWH of alleged “cong-tractors” who could face possible plunder complaints before the Office of the Ombudsman./PN
