Metro Manila, Philippines – A total of ₱3.9 billion in air assets, including two helicopters and one airplane, are in the new freeze orders issued by the Anti-Money Laundering Council (AMLC) in efforts to get back ill-gotten wealth from the flood control scandal, the agency said on Wednesday, Nov. 26.
In a press release, the AMLC said it secured two freeze orders from the court on Nov. 25 against the assets of a sitting high-ranking official from an independent constitutional body and a former elected officer.
In a video released on the same day, President Ferdinand Marcos Jr. confirmed that the AMLC frozen air assets amounting to almost ₱4 billion are tied to former House appropriations chairman Zaldy Co.
The Department of Public Works and Highways in September asked the AMLC to freeze the air assets tied to Co, who is tagged as a principal suspect in the flood control mess.
The agency also said the freeze orders cover 230 bank accounts and 15 insurance policies.
“Mas marami pong asset ay mafo-frozen para maibalik ang pera ng tao sa kanila. Ito po ay ang aming pangako,” Marcos said.
[Translation: More assets will be frozen so that people’s money can be returned to them. This is our promise.]
The AMLC said the assets were linked to anti-graft and malversation laws.
“The issuance of the freeze orders will enable AMLC to pursue a more extensive financial investigation to uncover any possible money laundering scheme linked to the flood control projects,” AMLC executive director Matthew David said.
As of Nov. 26, the total value of frozen assets of flood control suspects has reached ₱11.7 billion, covering 3,566 bank accounts, 198 insurance policies, 247 motor vehicles, 178 real properties, and 16 e-wallet accounts.
The AMLC said the value is expected to increase with the issuance of the recent freeze orders.
