1,193 bank accounts of House member, contractors frozen
The Anti-Money Laundering Council (AMLC) obtained a new court order freezing 1,193 bank accounts of several major contractors and a member of the House of Representatives.
As in previous cases, the AMLC did not disclose specific ownership details of the blocked holdings, keeping information top secret to avoid tip-offs and possible dissipation of the targeted assets.
The Court of Appeals found that the accounts may have possible links to anomalous flood control projects, a potential violation of Republic Act No. 3019 or the “Anti-Graft and Corrupt Practices Act.”
Continuing mandate
Since the sweeping graft crackdown began, authorities have blocked 6,538 bank accounts, 367 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts and three securities accounts due to suspected ties with dubious public works.
The total value of frozen assets now stands at P20.3 billion, the council said, adding that the figure is expected to increase as investigators examine the accounts covered by the latest freeze order.
“This affirms the AMLC’s commitment to perform its mandate as we continue to build on our progress despite the busy holiday season,” said Matthew David, the council’s executive director.
Offshore assets
David has said the investigation could extend beyond domestic holdings, with authorities also moving to trace and pursue offshore assets, including foreign bank accounts and real estate, linked to individuals accused of corruption in flood control projects.
The council may also seek court authority to freeze other personal holdings—including investments, jewelry and virtual assets—if they are found to be connected to the misuse of public funds.
‘Restitution’
On Sept. 30, the AMLC signed a memorandum of agreement with the Independent Commission for Infrastructure (ICI), the body created by President Marcos to investigate corruption in flood control projects, for closer coordination, data sharing and joint efforts to trace, preserve and recover assets linked to illicit activity.
David also said the council is working with the Office of the Ombudsman, the Bureau of Internal Revenue and the National Bureau of Investigation as it pursues “a thorough and impartial inquiry.”
ICI officials said the forfeitures would be part of “civil and administrative remedies,” including possible criminal charges to be filed against those implicated in fraudulent public works.
The commission also emphasized that justice is not enough on the issue of flood control project anomalies, saying that “restitution” of ill-gotten assets must be secured.
Over the past several weeks, current and former officials of the Department of Public Works and Highways (DPWH) implicated in the graft scandal have begun returning large sums of money they acknowledged were kickbacks from anomalous infrastructure projects.
Among them was engineer Gerard Opulencia of the DPWH’s National Capital Region office, who earlier this week turned over P40 million in cash to the Department of Justice, partially fulfilling a pledge to return a total of P150 million.
