NATIONAL
Advocates Philippines
CA Freezes Assets Of Firm Linked To Ghost Flood-Control Projects
FILE
The Anti-Money Laundering Council (AMLC) has secured a new freeze order from the Court of Appeals, targeting the assets of a construction firm allegedly involved in the largest number of ghost flood-control projects in the country.
In an announcement made on December 4, 2025, the AMLC said the Court of Appeals approved its latest petition, allowing authorities to freeze a wide range of assets connected to the company and several individuals linked to it.
The newly issued order covers 280 bank accounts, 22 insurance policies, three securities accounts, and eight air assets believed to be tied to the questionable projects.
AMLC Executive Director Matthew David said their move underscores the agency’s commitment to recover public funds lost to corruption. According to him, “ang paghahain nila ng petisyon para sa freeze order ay patunay ng kanilang commitment para marekober ang bawat piso sa pondo ng bayan.”
This action adds to the expanding list of assets previously frozen in connection with the alleged flood-control scam. To date, authorities have frozen 4,679 bank accounts, 283 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts, and three securities accounts, with an estimated value of ₱13 billion.
The AMLC said the latest freeze order strengthens ongoing efforts to trace and secure suspicious assets while investigations into the ghost flood-control network continue across multiple regions.
In an announcement made on December 4, 2025, the AMLC said the Court of Appeals approved its latest petition, allowing authorities to freeze a wide range of assets connected to the company and several individuals linked to it.
The newly issued order covers 280 bank accounts, 22 insurance policies, three securities accounts, and eight air assets believed to be tied to the questionable projects.
AMLC Executive Director Matthew David said their move underscores the agency’s commitment to recover public funds lost to corruption. According to him, “ang paghahain nila ng petisyon para sa freeze order ay patunay ng kanilang commitment para marekober ang bawat piso sa pondo ng bayan.”
This action adds to the expanding list of assets previously frozen in connection with the alleged flood-control scam. To date, authorities have frozen 4,679 bank accounts, 283 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts, and three securities accounts, with an estimated value of ₱13 billion.
The AMLC said the latest freeze order strengthens ongoing efforts to trace and secure suspicious assets while investigations into the ghost flood-control network continue across multiple regions.
Dec 5, 2025
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