The Anti-Money Laundering Council (AMLC) has secured another freeze order from the Court of Appeals, raising to ₱13 billion the total value of assets locked down as authorities expand their investigation into anomalous flood control projects.
In a statement on Friday, the AMLC said the Dec. 4 order covered the properties and accounts of a private construction company tagged as having “the greatest number of ghost flood control projects,” along with individuals and entities linked to it.
The latest directive freezes 280 bank accounts, 22 insurance policies, three securities accounts, and eight air assets, preventing any movement while the probe continues.
AMLC executive director Matthew David said the council’s petition reflects its “firm commitment to recover every peso of public funds that may have been misused.”
The freeze orders form part of the government’s escalating efforts to trace and recover assets connected to the alleged multi-billion-peso corruption in flood control projects nationwide.