The Anti-Money Laundering Council (AMLC) has secured another freeze order from the Court of Appeals, this time covering 592 bank accounts, three insurance policies, 73 motor vehicles, and 18 real properties linked to alleged irregularities in the country’s flood control projects.
The order, issued on September 19, targets assets of individuals and contractors identified in corruption complaints filed with the Office of the Ombudsman.
The AMLC earlier froze 135 bank accounts and 27 insurance policies based on a request from the Department of Public Works and Highways (DPWH).
“The sheer magnitude of assets involved reflects the alarming scope of corruption tied to these flood control projects,” said AMLC Executive Director Matthew David. He added that the move is part of efforts to recover illicit proceeds and pursue civil and criminal cases against those involved in money laundering.
The Bangko Sentral ng Pilipinas has also launched a parallel probe, its first under the Anti-Financial Scamming Act, directing banks to hold suspicious funds for at least 30 days.
Meanwhile, the newly formed Independent Commission for Infrastructure has begun its own inquiry into the anomalies. Chaired by former Supreme Court justice Andres Bernal Reyes Jr., the body includes former DPWH Secretary Rogelio “Babes” Singson and SGV and Co. managing partner Rossana Fajardo as members, with Baguio City Mayor Benjamin Magalong serving as special adviser.
