AMLC: CA freezes 379 more bank accounts in flood control mess

The Court of Appeals has issued a freeze order on 379 bank accounts and 55 real estate properties of personalities and entities linked to ghost flood control projects, the Anti-Money Laundering Council said on Friday.

In a statement, the AMLC said the total value of frozen assets in connection with the flood control scandal has reached P24.7 billion, consisting of bank accounts, insurance policies, motor vehicles, air assets, real properties, e-wallet accounts, securities accounts, and investment accounts.

The said figure is expected to increase as the AMLC investigates the assets covered by the latest freeze order.

The AMLC said the appellate court froze the bank accounts of two contractors that secured the majority of flood control projects implemented in the Province of Bulacan, which were subsequently found to be non-existent, a prominent businessman, and other related persons and entities implicated in anomalous flood control ghost projects.

Aside from the bank accounts and pieces of property, the order also froze four e-wallet accounts, ten insurance policies, nine securities accounts, and ten investment accounts.

"Through our continued investigation into these anomalous flood control projects, the AMLC reaffirms its commitment to safeguarding public resources and sends a clear message that corruption must be exposed at its roots," AMLC Executive Director Atty. Matthew M. David said.

The AMLC said the assets were found to be linked to violations of the Anti-Graft and Corrupt Practices Act under Republic Act (R.A. No. 3019, as well as Malversation of Public Funds under Article 217 of the Revised Penal Code.

Before the latest freeze order, the AMLC had secured freeze orders covering assets worth at least P22.869 billion in connection with anomalous flood control projects.

The earlier freeze orders cover 724 individuals and 537 entities, such as construction companies.

Meanwhile, the breakdown of the P22.8 billion is as follows:

• P14 billion (6,692 bank accounts)
• P4.8 billion (10 air assets)
• P2.1 billion (161 real estate properties)
• P902.1 million (other investments)
• P490 million (394 insurance accounts)
• P445.2 million (229 motor vehicles)
• P400,639 (16 e-wallet accounts)

The AMLC said they may file a forfeiture case for the return of the assets after six months.

Meanwhile, the Independent Commission for Infrastructure (ICI) Project Investigation Task Force (PITF) convened on Friday to discuss several key issues on anomalous flood control projects.

In a statement, the ICI said that the 5th PITF meeting tackled the latest updates on the probe into the anomalous flood control projects, including the top 15 contractors named by President Ferdinand Marcos Jr.

The meetings, held every two weeks, were attended by the PITF members, who are representatives from the Philippine National Police–Criminal Investigation and Detection Group, National Bureau of Investigation.

PITF is in charge of conducting the verification and investigation of evidence and inspections relating to the anomalous flood control projects. –with Jiselle Anne C. Casucian/NB, GMA Integrated News