AMLC freezes P6.3 billion in assets of personalities in flood control scandal

Metro Manila, Philippines - The total value of frozen assets from personalities tagged in the flood control scandal has reached P6.3 billion, the Anti Money Laundering Council (AMLC) said on Wednesday, Nov. 5.

In a press statement, the AMLC said these cover 1,671 bank accounts, 144 real properties, 58 insurance policies, 244 motor vehicles, and 12 e-wallet accounts.

The agency said it also secured the seventh freeze order from the Court of Appeals, which will further increase the value of frozen assets.

The AMLC said the freeze order covers 45 more real estate properties and 81 vehicles, including high-end sports cars, sports utility vehicles, and motorcycles of former government officials.

The AMLC did not name the asset owners.

“We continue to pursue every lead, secure necessary order, and hold accountable those who misuse public funds,” AMLC executive director Matthew David said.