CA freezes P16B in assets linked to flood control project fraud

The Court of Appeals (CA) has issued additional freeze orders against bank accounts, properties, and aircraft linked to an alleged multibillion-peso fraud in government flood control projects.

The freeze orders cover the assets of Silverwolves Construction Corp. and Sky Yard Aviation Corp., as well as the personal accounts of Benguet Rep. Eric G. Yap and Party-list Rep. Edvic G. Yap.

More than P16 billion in transactions passed through Silverwolves from 2022 to 2025, primarily tied to flood control contracts with the Department of Public Works and Highways (DPWH).

Authorities froze 280 bank accounts, 22 insurance policies, three securities accounts, and eight aircraft linked to Sky Yard Aviation.

President Ferdinand R. Marcos, Jr. stated that these freeze orders are crucial to prevent asset disposal and strengthen efforts to recover public funds.

Eight DPWH personnel in Davao Occidental have expressed their intent to surrender to the National Bureau of Investigation.