The Anti-Money Laundering Council (AMLC) secured freeze order from the Court of Appeals (CA), targeting a wide array of assets linked to individuals and entities involved in the controversial flood control projects.
AMLC Executive Director Matthew David said on Tuesday, September 30, that the council’s goal is to disrupt the financial networks fueling corruption. Freezing assets like bank accounts, vehicles, and properties aims to prevent the misuse of stolen public funds and hold those responsible for money laundering accountable.
The order freezes 836 bank accounts, 12 e-wallets, 24 insurance policies, 81 vehicles, and 12 real estate properties — the largest asset freeze since the investigation into the flood control anomalies began.
This latest freeze builds on two earlier orders that immobilized 1,563 bank accounts, 54 insurance policies, 154 vehicles, 30 properties, and 12 e-wallets.
With the addition of these new assets, the total value of the frozen assets related to the scandal has reached PHP 2.9 billion, and that figure will likely grow as the investigation deepens.
The AMLC reaffirmed its commitment to transparency and accountability, vowing to work closely with other government agencies to safeguard public funds and ensure their proper use.*
Reymund Titong is a Filipino journalist steadily building his voice in the field of news reporting, driven by a commitment to tell meaningful and relevant stories.
He serves as a correspondent for Rappler, contributes to Negros Daily Bulletin, and maintains a blog on Medium.