The Anti-Money Laundering Council (AMLC) continues its investigation into the flood control project anomalies as it secures another freeze order.
In its ruling, the Court of Appeals ordered the freezing of the bank accounts of major contractors and a member of House of Representatives, for possible links to the flood control project anomalies.
The Court of Appeals found the assets of the individual and entities concerned to be linked to possible violations of Republic Act No. 3019, or the “Anti-Graft and Corrupt Practices Act.”
The freeze order covers 1,193 bank accounts.
The freeze order covers 1,193 bank accounts.
“This affirms the AMLC’s commitment to perform its mandate as we continue to build on our progress despite the busy holiday season,” said Executive Director Matthew David.
6,538 bank accounts, 367 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts, and three securities accounts have been frozen due to their links to the anomalous flood control projects.
To date, 6,538 bank accounts, 367 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts, and three securities accounts have been frozen due to their links to the anomalous flood control projects.
The total value of these assets has reached P20.3 billion.
The said figure is expected to increase as the AMLC further conducts investigation into the bank accounts covered by the latest freeze order.
