CA freezes assets of Yap brothers tied to alleged flood control scheme – Marcos

Metro Manila, Philippines – The Court of Appeals has ordered the freezing of billions of pesos in bank accounts, properties, and aircraft linked to Benguet Rep. Eric Yap, his brother ACT-CIS Party-list Rep. Edvic Yap, and companies allegedly involved in irregular flood control projects, President Ferdinand Marcos Jr. announced Tuesday, Dec. 9. 

In a video message, Marcos said the freeze order covers assets connected to Silverwolves Construction Corp. and Sky Yard Aviation Corp., along with the lawmakers’ personal accounts. He described the action as part of the administration’s broader effort to secure public funds while investigating anomalies in Department of Public Works and Highways (DPWH) projects.

The president said more than P16 billion flowed through Silverwolves’ transactions from 2022 to 2025, most of it tied to DPWH flood control projects in La Union and other areas. He said authorities froze 280 bank accounts, 22 insurance policies, three securities accounts, and eight air assets, including airplanes and a helicopter linked to Sky Yard Aviation.

The development comes after Ombudsman Boying Remulla identified Eric Yap in October as a “person of interest” in relation to Silverwolves, following complaints filed by Public Works Secretary Vince Dizon over questionable flood control projects in La Union bagged by the construction firm. 

Marcos said the sweeping freeze order is necessary to prevent the disposal of assets while investigators pursue allegations of public fund misuse. 

“Kailangan natin ng mga freeze order na ito para hindi maibenta ang mga ari-arian at para maibalik natin sa ating mga kababayan ang bawat pisong pinaghihinalaang ninakaw,” he said.

[Translation: We need these freeze orders to prevent the sale of assets and ensure that every peso suspected to have been stolen is returned to the public.]

The DPWH earlier lodged cases involving malversation of public funds through falsification of documents against several officials and Silverwolves, as well as St. Timothy Construction Corp.

Yap has repeatedly denied benefiting from kickbacks or directing the delivery of money linked to the allegedly anomalous projects. His brother, Rep. Edvic Yap, was also tagged after the Anti-Money Laundering Council reported past transfers from contractors Pacifico and Cezarah “Sara” Discaya to his accounts.

Marcos said eight DPWH personnel in Davao Occidental have signaled their intent to surrender to the National Bureau of Investigation as part of ongoing proceedings. He added that an arrest warrant for Discaya is expected to be issued this week.

The president said the investigation will continue until accountability is established and public money is recovered. 

“Magpapatuloy ang imbestigasyon. Magpapatuloy ang pagpapanagot at titiyakin ng pamahalaan na ang pera ng bayan ay maibabalik sa taong-bayan,” he said.

[Translation: The investigation will continue. Accountability will continue, and the government will ensure that public funds are returned to the people.]