The Anti-Money Laundering Council (AMLC) on Thursday said that P5.2 billion worth of assets have been frozen after securing the sixth freeze order from the Court of Appeals in relation to the ongoing investigation into the anomalous flood control projects.
The freeze order covers 39 bank accounts, four insurance policies, and 59 real estate properties. ‘As of this morning, we have P5.2 billion and we’re still waiting for the submission of other bank returns and evaluation of other properties that were frozen by the six freeze orders,’ AMLC Executive Director Matthew David, speaking in Filipino, answered in a press conference when asked for an update on the assets frozen from the flood control probe.
The AMLC previously said that since the first freeze order was issued last September 16, the agency has so far frozen 1,671 bank accounts, 58 insurance policies, 163 motor vehicles, 99 real properties, and 12 e-wallet accounts believed to be connected to irregularities in flood control works.
David said that while he cannot disclose the individuals whose assets got frozen, he said that they include ‘former DPWH officials, contractors, and their cohorts in relation to the corruption of flood control projects.’
Meanwhile, when asked if the AMLC has observed activities of money laundering prior to the issuance of freeze orders, David said that the CA has authorized the AMLC to conduct a bank inquiry on these accounts.
David noted that after the bank inquiry, which he said will take a long time, the bank investigators will submit a report on the activities of bank account holders, especially if they withdrew huge amounts of money after President Ferdinand Marcos Jr. ordered the investigation into corruption in government infrastructure projects.