The Anti-Money Laundering Council secured a third freeze order against individuals tied to flood control controversy, building on two earlier directives and collectively paralyzing 1,563 bank accounts, 54 insurance policies, 154 vehicles, 30 properties and 12 e-wallets.
The third order, granted by the Court of Appeals on Sept. 30, covered 836 bank accounts, 12 e-wallets, 24 insurance policies, 81 motor vehicles and 12 real estate properties, marking the most extensive asset freeze since the probe began.
‘By freezing a wide range of assets-such as bank accounts, e-wallets, vehicles, and properties-the AMLC is disrupting the financial channels used in corrupt activities,’ said AMLC Executive Director Matthew M. David.
‘Our goal is straightforward: prevent stolen public funds from being dissipated and misused, recover them for the National Government, and ensure that those involved in money laundering are held accountable,’ David added.