ICI seeks forfeiture of P5 billion in assets linked to flood control anomalies

The Independent Commission for Infrastructure (ICI) is seeking the forfeiture of approximately P5 billion in assets frozen by the Anti-Money Laundering Council (AMLC) in connection with flood control anomalies.

ICI Executive Director Brian Keith Hosaka stated that the P5 billion figure is a 'moving target' and is expected to increase as the probe widens, with the AMLC having frozen P4.67 billion in assets so far.

These frozen assets include 1,671 bank accounts, 163 vehicles, 99 real properties, 58 insurance policies, and 12 e-wallet accounts.

The Bureau of Customs plans to auction off 13 luxury cars seized from contractors Sarah and Curlee Discaya, while two additional luxury vehicles surrendered by Brice Hernandez are under verification.

Hosaka acknowledged that criminal charges might be lengthy and emphasized that justice is better served through restitution, ensuring the return of public funds.

At least 18 government agencies have formed a technical working group to efficiently recover assets derived from stolen public funds.

Public Works Secretary Vivencio B. Dizon confirmed a review of contracts awarded in the past decade, with special attention to deals involving Pacifico F. Discaya II and Cezarah Rowena C. Discaya.