THE Anti-Money Laundering Council (AMLC) has secured 15 freeze orders covering assets worth P22.869 billion as part of the government’s continuing investigation into alleged irregularities in flood control projects.
The freeze orders target a wide range of assets believed to be connected to individuals and entities under scrutiny for possible misuse of public funds allocated for flood mitigation and control programs.
The frozen assets include:
P14 billion from 6,692 bank accounts
P4.8 billion worth of 10 air assets
P2.1 billion from 161 real estate properties
P902.1 million from other investments
P490 million across 394 insurance accounts
P445.2 million from 229 motor vehicles
P400,639 from 16 e-wallet accounts
The issuance of the freeze orders is seen as a critical step in preventing the dissipation of assets while the probe is ongoing.
The AMLC is eyeing the filing of a forfeiture case for the return of the assets within six months. (TPM/SunStar Philippines)