NATIONAL
Advocates Philippines
AMLC Freezes More Assets As Probe Into Flood Control Scandal Widens
Substandard flood control project. DPWH File Photo
The Anti-Money Laundering Council (AMLC) has tightened its grip on officials linked to the controversial flood control projects, securing two more freeze orders on November 25. This time, the orders target the assets of a high-ranking official from an independent constitutional body and a former elected official.
According to the AMLC, the assets were found to be potentially tied to violations of the Anti-Graft and Corrupt Practices Act and the law on Malversation of Public Funds. The freeze covers 230 bank accounts, 15 insurance policies, two helicopters, and even an airplane—with the air assets alone estimated at ₱3.9 billion.
AMLC Executive Director Matthew M. David said the additional freeze orders are meant to give investigators more room to uncover possible money laundering activities behind the anomalous projects.
“The public can be assured that the AMLC will continue to pursue all possible legal remedies to hold accountable those who misused public funds,” David said.
So far, the AMLC has frozen 3,566 bank accounts, 198 insurance policies, 247 vehicles, 178 properties, and 16 e-wallet accounts, all believed to be connected to the flood control mess. The total value now stands at a staggering ₱11.7 billion—and is expected to rise further as more orders are issued.
According to the AMLC, the assets were found to be potentially tied to violations of the Anti-Graft and Corrupt Practices Act and the law on Malversation of Public Funds. The freeze covers 230 bank accounts, 15 insurance policies, two helicopters, and even an airplane—with the air assets alone estimated at ₱3.9 billion.
AMLC Executive Director Matthew M. David said the additional freeze orders are meant to give investigators more room to uncover possible money laundering activities behind the anomalous projects.
“The public can be assured that the AMLC will continue to pursue all possible legal remedies to hold accountable those who misused public funds,” David said.
So far, the AMLC has frozen 3,566 bank accounts, 198 insurance policies, 247 vehicles, 178 properties, and 16 e-wallet accounts, all believed to be connected to the flood control mess. The total value now stands at a staggering ₱11.7 billion—and is expected to rise further as more orders are issued.
Nov 26, 2025
We are dedicated storytellers with a passion for bringing your brand to life. Our services range from news and media features to brand promotion and collaborations.
Interested? Visit our
Contact Us page for more information. To learn more about what we offer, check out our latest article on services and opportunities.
