NEARLY P12 billion in assets are now frozen as the Anti-Money Laundering Council (AMLC) secured two new freeze orders. These orders target individuals implicated in the ongoing flood control graft scandal, highlighting the immense scale of the alleged corruption.
The AMLC stated that the assets were determined to be connected to violations of the “Anti-Graft and Corrupt Practices Act” (Republic Act No. 3019) and “Malversation of Public Funds and Property” (Article 217 of the Revised Penal Code, as amended).
AMLC executive director Matthew David emphasized that “The issuance of the freeze orders will enable AMLC to pursue a more extensive financial investigation to uncover any possible money laundering scheme linked to the flood control projects.” He further assured the public that the AMLC will continue to pursue all available legal avenues to ensure accountability for those involved in the misuse of public funds.
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