AMLC freezes P25-B assets in flood projects
The Anti-Money Laundering Council (AMLC) has frozen nearly P25 billion in assets linked to alleged corruption in government-funded flood control projects, with the latest order targeting contractors connected to the scandal.
In a statement, the council said the Court of Appeals on Jan. 30 issued a new directive to freeze a wide range of assets, including 379 bank accounts, four e-wallet accounts, 10 insurance policies, nine securities accounts, 10 investment accounts and 55 real properties.
Among the blocked holdings were the bank accounts of two contractors that won the majority of flood control projects in Bulacan—projects that were later found to be nonexistent.
The fresh order also targeted the assets of a prominent businessman, along with other individuals and entities implicated in the fraudulent flood control schemes. 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 AMLC said the immobilized holdings were linked to violations of the Anti-Graft and Corrupt Practices Act under Republic Act No. 3019, as well as malversation of public funds under Article 217 of the Revised Penal Code.
Since the start of its crackdown last year, the AMLC has secured court approvals freezing assets worth a cumulative P24.7 billion. In addition to financial accounts, the frozen assets include motor vehicles, aircraft, real properties, securities accounts and investment holdings.
“Through our continued investigation into these anomalous flood control projects, the AMLC reaffirms its commitment to safeguarding public resources and sends a clear message that corruption must be exposed at its roots,” said Matthew David, the council’s executive director.
Joint efforts
Last September, 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.
Last month, the Sandiganbayan antigraft court ordered the detention of former Sen. Ramon “Bong” Revilla Jr. and six others for graft and malversation charges over a flood control project in Bulacan.
Revilla and the six other accused allegedly conspired to release at least P76 million as payment for the project in Purok V, Barangay Bunsuran in Pandi, Bulacan, which was awarded to a private contractor in March 2025, according to Assistant Ombudsman Mico Clavano.
Revilla was implicated in the flood control controversy after former Public Works Undersecretary Roberto Bernardo claimed to have delivered P125 million to Revilla’s residence in December 2024, and had another P250 million delivered by his aide before the 2025 elections.
