Freeze order issued vs contractor with highest number of ghost projects —AMLC

The Anti-Money Laundering Council (AMLC) on Friday announced it has secured a new freeze order on the assets of a construction firm with the most number of “ghost” or non-existing flood control projects.

In a statement, the AMLC said the latest freeze order was granted by the Court of Appeals (CA) on December 4, 2025.

The freeze order covers the assets of a private construction company “identified as having the greatest number of ghost flood control projects, along with entities and individuals linked to the construction firm,” according to the antitrust-dirty money body.

The AMLC did not identify the construction company.

However, among the top contractors under heavy scrutiny due to alleged involvement in “ghost” flood control projects in Bulacan were Wawao Builders and SYMS Construction.

The anti-dirty money council said the latest freeze order “covers 280 bank accounts, 22 insurance policies, three securities accounts, and eight air assets.”

The AMLC said the CA found sufficient grounds to connect the frozen assets to possible violations of Republic Act No. 3019 or the Anti-Graft and Corrupt Practices Act as well as Malversation of Public Funds and Property under Article 217 of the Revised Penal Code.

“The filing of this petition for a freeze order underscores the AMLC’s firm commitment to recover every peso of public funds that may have been misused,” said AMLC Executive Director Matthew David.

The AMLC said that so far it has secured freeze orders covering 4,679 bank accounts, 283 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts, and three securities as the probe into the anomalous flood control projects continues.

The total value of the frozen assets has reached P13 billion, the antitrust-dirty money body. 

The AMLC further said the amount of frozen assets is expected to increase “as the investigation deepens.” —AOL, GMA Integrated News