AMLC freezes P13 billion in assets of construction firm over ghost projects

The Anti-Money Laundering Council (AMLC) has secured a freeze order on the assets of a construction firm identified as having the greatest number of "ghost" flood control projects.

The freeze order, granted by the Court of Appeals (CA) on December 4, 2025, covers 280 bank accounts, 22 insurance policies, three securities accounts, and eight air assets.

The CA found sufficient grounds to connect the frozen assets to possible violations of Republic Act No. 3019 (Anti-Graft and Corrupt Practices Act) and Malversation of Public Funds and Property.

The AMLC previously froze 4,679 bank accounts, 283 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts, and three securities accounts.

The total value of all frozen assets has reached P13 billion and is anticipated to grow as the investigation progresses.