MANILA — Billions worth of assets linked to the controversial flood control projects have been locked down after the Court of Appeals granted the Anti-Money Laundering Council’s (AMLC) request for a sweeping freeze order — the most aggressive financial strike yet in the corruption probe.
The order immobilizes 836 bank accounts, 12 electronic wallets, 24 insurance policies, 81 vehicles, and 12 parcels of real estate suspected to have been acquired through questionable transactions.
“By freezing a wide range of assets — such as bank accounts, e-wallets, vehicles, and properties — the AMLC is disrupting the financial channels used in corrupt activities,” said AMLC Executive Director Matthew David.
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“Our goal is straightforward: prevent stolen public funds from being dissipated and misused, recover them for the National Government, and ensure that those involved in money laundering are held accountable,” he added.
This latest directive builds on two earlier freeze orders that already covered 1,563 bank accounts, 54 insurance policies, 154 vehicles, 30 real properties, and 12 e-wallets.
Combined, the frozen assets now amount to an estimated ₱2.9 billion — a figure investigators warned could climb further as more financial links are traced in the weeks ahead.
The AMLC emphasized that it is coordinating with other government agencies to maintain transparency and to protect public funds from further misuse./PN
