The Anti-Money Laundering Council (AMLC) resolutely continues its investigation into the flood control project anomalies, securing another freeze order against assets linked to the scheme.
The Court of Appeals issued a Freeze Order against the bank accounts of two contractors that secured the majority of flood control projects implemented in the Province of Bulacan, which were subsequently found to be non-existent, a prominent businessman, and other related persons and entities implicated in anomalous flood control ghost projects.
The assets of these individuals and entities were found to be linked to violations of the Anti-Graft and Corrupt Practices Act under Republic Act (R.A.) No. 3019, as well as Malversation of Public Funds under Article 217 of the Revised Penal Code.
The Freeze Order covers 379 bank accounts, four e-wallet accounts, 10 insurance policies, nine securities accounts, 10 investment accounts, and 55 real properties.
The Freeze Order covers a wide range of assets, including 379 bank accounts, four e-wallet accounts, 10 insurance policies, nine securities accounts, 10 investment accounts, and 55 real properties.
“Through our continued investigation into these anomalous flood control projects, the AMLC reaffirms its commitment to safeguarding public resources.”
“Through our continued investigation into these anomalous flood control projects, the AMLC reaffirms its commitment to safeguarding public resources and sends a clear message that corruption must be exposed at its roots,” said AMLC Executive Director Atty. Matthew David.
To date, the total value of assets frozen has reached P24.7 billion, consisting of bank accounts, insurance policies, motor vehicles, air assets, real properties, e-wallet accounts, securities accounts, and investment accounts.
The said figure is expected to increase as the AMLC further conducts investigation into the assets covered by the latest freeze order.
