ABS-CBN
AMLC says more freeze orders coming on assets linked to flood control mess
The Anti-Money Laundering Council (AMLC) has secured a fifth freeze order from the Court of Appeals, increasing the total value of frozen assets linked to alleged corruption in government flood control projects to over P4.4 billion.
The freeze orders cover 1,632 bank accounts, 54 insurance policies, 163 motor vehicles, 40 real properties, and 12 e-wallets.
AMLC Executive Director Matthew M. David stated that existing laws are sufficient to pursue money laundering schemes related to these anomalous projects and assured that the AMLC will enhance its monitoring of banks and other covered entities.
David also mentioned that more freeze orders are forthcoming as the AMLC continues its investigation into suspicious accounts related to anomalous infrastructure projects.
The AMLC recently signed an agreement with the Independent Commission for Infrastructure (ICI) to boost cooperation among agencies in the ongoing probe of anomalous flood control projects.
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The Anti-Money Laundering Council (AMLC) has secured court orders to freeze over P4 billion worth of suspected illicit assets linked to alleged anomalies in flood control projects.
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The Anti-Money Laundering Council (AMLC) has obtained its sixth freeze order from the Court of Appeals, targeting assets linked to the ongoing investigation into alleged corruption in flood control projects.
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