The Anti-Money Laundering Council (AMLC) has intensified its probe into the massive flood control anomaly by coordinating with international counterparts to trace and freeze the overseas assets of a high-ranking official and a former government executive.
AMLC Executive Director Matthew David issued the statement Thursday during an interview on Super Radyo dzBB, noting that the council is actively working with foreign authorities regarding the individuals linked to the alleged anomalous flood control projects. This comes shortly after the AMLC successfully secured a massive freeze order on P3.9 billion worth of domestic assets belonging to the two personalities.
“We have started work with regard to particular individuals who are the subjects of these freeze orders,” David said, emphasizing the council’s capacity to track wealth across borders.
The recent freeze order secured by the AMLC covers a significant cache of assets, including 230 bank accounts, 15 insurance policies, two helicopters, and one airplane. The two individuals under scrutiny include an incumbent official from an independent constitutional body and a former official.
The AMLC executive further detailed the process of international asset recovery, stating that if the agency identifies any property held by the subjects in another country, it can request the foreign authorities to impose a corresponding freeze order.
The council is currently requesting information from its international counterparts, expecting a response within a few weeks to determine if the subjects hold bank accounts or assets abroad.
This development marks a major escalation in the investigation, with the total value of frozen assets linked to the “flood control mess” now reported to have reached P4.4 billion. The AMLC has so far secured a total of six freeze orders in connection with this widespread scheme.