The Market Monitor Minding the Nation's Business
The government’s anti-corruption drive gained further traction after the Anti-Money Laundering Council (AMLC) secured its sixth freeze order from the Court of Appeals (CA) on Friday, covering dozens of new assets linked to alleged irregularities in multi-billion peso flood control projects.
The latest order covers 39 bank accounts, four insurance policies, and 59 real estate properties consisting of residential, commercial, and agricultural lands.
According to the AMLC, several of the properties are believed to be connected to a former high-ranking government official suspected of playing a key role in the procurement process of the questionable flood control project contracts.
Since the CA issued the first freeze order on September 16, authorities have frozen a total of 1,671 bank accounts, 58 insurance policies, 163 motor vehicles, 99 real properties, and 12 e-wallet accounts.
The estimated value of all frozen assets has now reached ₱4.67 billion, a figure expected to rise as investigators trace additional transactions and secure more court orders.
The AMLC said it continues to take deliberate actions to preserve assets potentially linked to unlawful activity, emphasizing that the ongoing operation aims to protect public funds and ensure accountability through due process.
It added that the council is coordinating closely with the Independent Commission for Infrastructure, the Office of the Ombudsman, the Bureau of Internal Revenue, and the National Bureau of Investigation in the review of individuals and entities flagged during recent Senate hearings.
The latest move signals a more aggressive push by the government to uncover the full extent of alleged anomalies in flood control projects that have drawn public outrage and triggered wider scrutiny of infrastructure spending.