Assets of Yap brothers in House frozen, Marcos bares
The Court of Appeals has frozen almost 300 bank accounts, P16 billion worth of properties and other assets linked to the flood-control scandal and allegedly owned by brothers and incumbent congressmen Eric and Edvic Yap, President Marcos disclosed on Tuesday.
In a video message, Mr. Marcos said the freeze order sought by the Anti-Money Laundering Council (AMLC) covered 280 bank accounts, three securities accounts, 22 insurance policies, and other assets of “Congressmen Eric Yap and Edvic Yap” and Silverwolves Construction Corp. and Sky Yard Aviation Corp., including a helicopter and seven other aircraft.
Eric Yap, currently the congressman of Benguet province, said he had divested himself of his interests in Silverwolves “a few years ago.” But according to Ombudsman Jesus Crispin Remulla, Yap remained the beneficial owner of the company.
“More than P16 billion flowed through Silverwolves’ transactions from 2022 to 2025, most of which were linked to flood-control projects of the Department of Public Works and Highways (DPWH),” Mr. Marcos said.
“We need these freeze orders to prevent the disposal of these assets and to ensure that every peso suspected to have been stolen can be recovered for our people,” the President said.
Charges vs Silverwolves
Although charges have yet to be filed against the Yaps, the government is pursuing at least two cases against Silverwolves, the company attributed to Rep. Eric Yap.
In October, Public Works Secretary Vince Dizon filed charges of malversation of public funds through falsification of public documents against 12 officials in his agency as well as Silverwolves and St. Timothy Construction Corp., one of nine companies owned by contractor-couple Curlee and Sarah Discaya.
Remulla said of those charges filed before his office that the Benguet lawmaker was now a “person of interest.”
Last month, Dizon filed charges of bid-rigging against Silverworks, St. Timothy and several more DPWH officials in connection with “ghost” and “substandard” flood-control projects in La Union and Davao Occidental.
Ombudsman’s claim
Yap was also implicated by Zaldy Co in September, when the fugitive and resigned lawmaker claimed in a video recording that Yap acted as a bagman delivering 46 suitcases containing cash to Co’s home at a Pasig City subdivision.
Meanwhile, Rep. Edvic Yap, the Benguet lawmaker’s brother and Co’s ally in the party-list group Ako Bicol, was tagged by Remulla as a beneficiary of the Discayas.
“We received a report from AMLC that there is a transmittal of money to Edvic Yap so we saw the pattern. They have something to do with the contracts because we saw the transfer of money from the Discayas,” the Ombudsman said in October.
In the video message, Mr. Marcos said: “For Filipinos coping with floods time and again, who lose their homes and their livelihoods, the funds meant for you can no longer be stolen and allow those guilty to escape justice.”
“The investigations will continue. Accountability will be pursued. And the government will make sure that the people’s money is returned to the people,” he said.
