AMLC freezes P5B from nearly 3,000 accounts in flood control fund mess - ICI

Metro Manila, Philippines - The Anti Money Laundering Council (AMLC) has frozen P5 billion in assets from 2,800 bank accounts of people tagged in the flood control scandal, the Independent Commission for Infrastructure (ICI) said.

In a news briefing on Thursday, Oct. 16, ICI executive director Brian Hosaka said this information was relayed to him by the agency during the commission’s asset recovery meeting with a number of government agencies.

He said while the amount is incomparable to the volume of alleged pocketed funds from flood control deals, the freezing of assets is a “moving target.”

Hosaka did not specify the owners of the frozen accounts.

The AMLC earlier froze accounts of over 20 people implicated in the flood control mess, including those owned by contractor-couple Sarah and Curlee Discaya and public works district engineers Henry Alcantara and Brice Hernandez – all suspects in anomalous projects in Bulacan.

“This is different from the criminal aspect. This is administrative and civil remedies, which in a way will be shorter because…it will not be going through the more thorough process of judicial proceedings,” Hosaka said.

Meanwhile, the commission spokesperson said a technical working group will be formed to speed up restitution or restoration of stolen public funds.

He said the inter-agency team will meet regularly to fast track asset recovery.

In his speech at its Thursday meeting, ICI Chairman Andres Reyes vowed to go after the assets of whom he called criminals in the corruption scandal.

“All those persons responsible for this may be prosecuted and jailed but to completely heal our nation justice is not enough. We need restitution,” he said.

The ICI met with over 15 agencies on Thursday, Oct. 16, including the Department of Public Works and Highways, Office of the Solicitor General, Insurance Commission, and the Bureau of Internal Revenue.