AMLC freezes P3.9B in air assets, total immobilized funds reach P11.7B

The Anti-Money Laundering Council (AMLC) has secured two new freeze orders, bringing the total value of immobilized assets linked to the flood control scandal to P11.7 billion.

These latest orders cover air assets valued at P3.9 billion, including two helicopters and one airplane, which President Ferdinand R. Marcos, Jr. identified as belonging to former Ako Bicol Party-list Rep. Elizaldy S. Co.

The total immobilized holdings now include 3,566 bank accounts, 198 insurance policies, 247 motor vehicles, 178 real properties, and 16 e-wallet accounts.

The AMLC stated that the freeze orders target assets linked to violations of the Anti-Graft and Corrupt Practices Act and Malversation of Public Funds.

The newly frozen assets belong to an incumbent high-ranking official from an independent constitutional body and a former elected government official.

President Marcos affirmed that this is only the start and more assets will be frozen to return the people's money.