The Anti-Money Laundering Council (AMLC) announced on Friday that it secured a freeze order on the assets of a private construction company with allegedly the largest number of “ghost” flood control projects.
The order, handed down on December 4, covers the 280 bank accounts, 22 insurance policies, three securities accounts, and eight air assets linked to the company and its executives, the Council said in a statement.
However, it did not name the construction company whose assets were subject to the latest freeze order.
The Court found sufficient grounds to connect these assets to possible violations of Republic Act No. 3019, the Anti-Graft and Corrupt Practices Act, as well as the Malversation of Public Funds and Property under Article 217 of the Revised Penal Code, the AMLC further stated.
“The filing of this petition for a freeze order underscored the AMLC’s firm commitment to recover every peso of public funds that may have been misused,” AMLC Executive Director Matthew David said.
To date, 4,679 bank accounts, 283 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts, and three securities accounts, with a combined value of some P13 billion, have been frozen due to their alleged links with anomalous flood control projects, the AMLC noted.
