THE total value of frozen assets linked to alleged corruption in public infrastructure projects has climbed to P6.3 billion, the Anti-Money Laundering Council (AMLC) revealed.
The council reported that the freeze now covers 1,671 bank accounts, 58 insurance policies, 244 motor vehicles, 144 real properties, and 12 e-wallet accounts.
‘With the issuance of the seventh Freeze Order, this figure is expected to rise further,’ read a statement the AMLC issued last Wednesday.
With the recent issuance of the FO by the Court of Appeals (CA), dozens of additional high-value properties and luxury vehicles have been added to a list that the AMLC described as ‘growing.’
The latest FO targets 45 more real estate properties and 81 vehicles, including high-end sports cars, SUVs, and luxury motorcycles, reportedly linked to former government officials.
The move forms part of the AMLC’s ongoing investigation into alleged misuse of public infrastructure funds, particularly controversial flood control projects.
‘We assure the public that our efforts have not ceased,’ AMLC Executive Director Matthew M. David was quoted in the statement as saying. ‘We continue to pursue every lead, secure every necessary order, and hold accountable those who misuse public funds.’
This latest action builds on the first freeze order granted by the CA on September 15, signaling an intensifying crackdown on alleged graft and mismanagement of public resources.
A statement issued by the Insurance Commission the day after, on September 16, read that the assets subject to the first FO ‘are linked to persons and entities currently under investigation by the Senate Blue Ribbon Committee for suspected anomalies in government flood control projects. Preliminary findings by the AMLC point to a possible money laundering scheme involving public funds intended for flood control initiatives.’
The sixth FO issued by the CA on October 10 linked several properties ‘to a former high-ranking government official suspected of playing a central role in the procurement process of the questioned flood control project contracts.’
The AMLC, however, didn’t name this official.