ICI computing value of recovered assets of flood control suspects

The Independent Commission for Infrastructure (ICI)’s Technical Working Group (TWG) for Asset Recovery is in the process of computing the estimated value of the recovered assets of personalities tagged in the flood control mess.

This was as the TWG, chaired by Cybercrime Investigation and Coordinating Center (CICC) acting executive director Renato Paraiso, convened its seventh coordination meeting.

In a statement, the ICI's TWG said the discussion “focused on the ongoing development and consolidation of the list of assets belonging to persons and entities under investigation.” 

“Member agencies with registration, regulatory, and supervisory authority over monetary, real estate, and moveable assets reported on the assets already identified and tagged within their respective jurisdictions,” the statement said.

“The agencies are likewise in the process of computing the estimated value of the assets identified,” it added. 

Other member agencies of the TWG are the Anti-Money Laundering Council (AMLC), Bureau of Customs (BOC), Bureau of Immigration (BI), Bureau of Internal Revenue (BIR), Civil Aviation Authority of the Philippines (CAAP), Construction Industry Authority of the Philippines (CIAP);

Department of Justice (DOJ), Department of Public Works and Highways (DPWH), Insurance Commission (IC), Land Registration Authority (LRA), Land Transportation Office (LTO), Maritime Industry Authority (MARINA), National Bureau of Investigation (NBI), Office of the Ombudsman, Office of the Solicitor General (OSG), and the Securities of Exchange Commission (SEC). 

The AMLC has frozen an estimated P21.2 billion in assets in connection to the government’s investigation on anomalous flood control projects. 

BOC deputy chief-of-staff Chris Bendijo said the frozen assets consist of bank accounts, e-wallets, insurance policies, motor vehicles, and air assets. — JMA, GMA Integrated News