THE Anti-Money Laundering Council (AMLC) has so far frozen a total P4.67 billion worth of assets linked to alleged anomalies in flood control projects (FCP), after securing its sixth freeze order from the Court of Appeals.
In a statement on Friday, the AMLC said the latest order covers 39 bank accounts, four insurance policies and 59 real estate properties, including residential, commercial and agricultural assets.
Some of these properties are connected to a former high-ranking government official suspected of playing a central role in the procurement of questionable flood control contracts.
‘We are taking deliberate actions to preserve assets potentially linked to unlawful activity,’ AMLC Executive Director Atty. Matthew M. David was quoted in the statement as saying.
‘Our focus remains on ensuring that public funds are protected and that those involved are held accountable through lawful and transparent processes,’ David added.
This sixth freeze order builds on earlier directives that already immobilized 1,671 bank accounts, 58 insurance policies, 163 motor vehicles, 99 real properties and 12 e-wallet accounts.
Collectively, these frozen assets amount to a total of P4.67 billion, with the AMLC anticipating the figure to increase as additional orders are secured and new leads are uncovered.
Last October 8, the AMLC received its fifth freeze order from the CA covering several bank accounts, linked to persons-of-interest, including an entity whose license had allegedly been used in implementing ghost projects.
Moreover, the AMLC said it is coordinating closely with the Independent Commission for Infrastructure, the Office of the Ombudsman, the Bureau of Internal Revenue and the National Bureau of Investigation.
‘The multi-agency effort includes a review of individuals and entities flagged during recent Senate hearings, underscoring the government’s commitment to a thorough and impartial inquiry,’ it said.
With the freeze order, banks can now examine their systems, determine the amounts stored in the covered accounts and report these to the AMLC.
According to David, the freeze order is a step toward the filing of civil and criminal cases, including efforts to recover funds possibly moved before the directive took effect.
The freeze order can only be lifted if the account or asset owners file a motion to lift the effects of the freeze order over their accounts or assets.