Manila: The Anti-Money Laundering Council (AMLC) has announced that it obtained a new freeze order from the Court of Appeals, encompassing an extensive array of assets potentially connected to individuals and entities implicated in fraudulent flood control projects.

According to Philippines News Agency, among the assets frozen are 836 bank accounts, 12 e-wallets, 24 insurance policies, 81 motor vehicles, and 12 real estate properties. This marks the most comprehensive asset freeze since the investigation into the flood control irregularities commenced.

By immobilizing a variety of assets such as bank accounts, e-wallets, vehicles, and properties, the AMLC aims to disrupt the financial channels utilized in corrupt activities. Lawyer Matthew David, the AMLC executive director, stated that their objective is to prevent the dissipation and misuse of stolen public funds, recover them for the National Government, and ensure accountability for those involved in money laundering.

The latest freeze order expands on two prior directives that collectively froze 1,563 bank accounts, 54 insurance policies, 154 vehicles, 30 properties, and 12 e-wallets. The AMLC estimates that the total value of frozen assets related to the controversy currently stands at PHP2.9 billion, with expectations of an increase as the investigation progresses.

The AMLC reiterated its commitment to transparency and accountability, emphasizing its collaboration with other government agencies to safeguard and appropriately use public funds.