AMLC freezes over P4B of assets in flood control scandal
Metro Manila, Philippines - The Anti-Money Laundering Council (AMLC) has frozen assets valued at over P4 billion so far as the government continues to investigate alleged anomalies in flood control projects.
The AMLC secured its fourth freeze order from the Court of Appeals on Friday, Oct. 3.
The council said the order covers 57 bank accounts, 10 real properties, and nine motor vehicles.
With the four freeze orders, the government has immobilized a total of 1,260 bank accounts, 54 insurance policies, 163 motor vehicles, 40 real properties, and 12 e-wallet counts.
“Among the assets seized are high-value holdings such as a luxury compound in a prime urban district, multiple high-end vehicles, virtual currencies,a nd unit investment trust funds,” the AMLC said.
The agency first issued on Sept. 16 a freeze order on bank accounts of over 20 people, including dismissed Department of Public Works and Highways engineers Henry Alcantara, Brice Ericson Hernandez, and Jaypee Mendoza, as well as contractors such as Curlee and Sarah Discaya.
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The AMLC and the Independent Commission for Infrastructure, the body investigating flood control and related projects within the last decade, signed a memorandum of agreement to strengthen inter-agency collaboration.
