AMLC, BSP freeze assets of officials, contractors in flood control anomaly probe

Following a request from the Department of Public Works and Highways (DPWH), the Anti-Money Laundering Council (AMLC) and the Bangko Sentral ng Pilipinas (BSP) have moved to freeze assets of officials and contractors implicated in alleged flood-control project anomalies.

DPWH Secretary Vince Dizon confirmed that the petition, filed on September 12, has led to banks being informed of the asset freeze order as of September 16.

The freeze order targets individuals named in a Department of Public Works and Highways (DPWH) Ombudsman complaint, including dismissed DPWH officials Henry Alcantara, Brice Hernandez, and Jaypee Mendoza, collectively known as the 'BGC boys'.

Contractors Sarah Discaya of St. Timothy Construction, Sally Santos of SYMS Construction Trading, and Mark Allan Arevalo of Wawao Builders also had their assets frozen.

The enforcement is being pursued under the Anti-Money Laundering Act (AMLA) via the AMLC, and under the Anti-Financial Account Scamming Act (AFASA) through the BSP.

Secretary Dizon stated that this action is a significant development that will reassure the public and initiate the process of recovering stolen funds.