The Anti-Money Laundering Council has secured a fifth freeze order from the Court of Appeals under the ongoing flood control probe, bringing the total value of immobilized assets to over P4.4 billion.
The ongoing crackdown has so far frozen 1,632 bank accounts, 54 insurance policies, 163 motor vehicles, 40 real properties and 12 e-wallet accounts.
The latest freeze order covered several additional bank accounts, linked to persons-of-interests, notably including an entity whose license had been allegedly used in the implementation of ghost projects.
Securities and Exchange Commission chair Francis Lim, a member of the council, said, ‘The partnership sends a clear signal that corruption will not be tolerated.’