AMLC: 592 bank accounts frozen in flood control projects mess

The Anti-Money Laundering Council (AMLC) has received another freeze order from the Court of Appeals covering 592 bank accounts of individuals and contractors linked to the irregularities in the flood control projects in the country. 

The AMLC secured the freeze order last September 19. 

“The order covers a total of 592 bank accounts, three insurance policies, 73 motor vehicles, and 18 real properties belonging to other individuals and contractors linked with the irregular flood control projects,” the AMLC said in a statement. 

The AMLC earlier froze 135 bank accounts and 27 insurance policies of individuals and corporations following a request from the Department of Public Works and Highways (DPWH). 

Graft complaints

The list of individuals and corporations covered by the freeze order was not immediately available, but the DPWH request to the AMLC carried the names of 26 individuals, whom Public Works Secretary Vince Dizon said were the same names that are facing graft complaints with the Office of the Ombudsman.

The AMLC said that the issuance of the latest freeze order was a step to recover assets derived from unlawful activities. 

“The sheer magnitude of assets involved reflects the alarming scope of corruption tied to these flood control projects,” said AMLC Executive Director Matthew David in a statement. “This freeze order marks another steph toward the filling of appropriate civil and criminal cases against those found to have laundered illicit proceeds.” 

Bangko Sentral ng Pilipinas

The Bangko Sentral ng Pilipinas earlier said that it is also conducting a similar probe, the first under the Anti-Financial Scamming Act, which orders banks to hold funds for at least 30 days.

The Independent Commission for Infrastructure already began on Friday its investigation on the anomalous in the flood control projects in the country. 

The commission is chaired by former Supreme Court justice Andres Bernal Reyes Jr., and counts as members former Public Works and Highways Secretary Rogelio “Babes” Singson, and SGV and Co. country managing partner Rossana Fajardo. Baguio City Mayor Benjamin Magalong serves as special adviser and investigator. –NB, GMA Integrated News