The Anti-Money Laundering Council (AMLC) has secured an order from the Court of Appeals to freeze 592 bank accounts suspected of being linked to anomalous flood control projects.
In a statement on Friday, the AMLC said the order also covered three insurance policies, 73 motor vehicles, and 18 real properties belonging to individuals and contractors implicated in the controversy.
“The magnitude of assets covered by the freeze order highlights the alarming scope of corruption,” AMLC Executive Director Matthew David said. “This action is part of our mandate to trace, preserve, and recover assets derived from unlawful activities.”
The freeze order is preventive in nature, meant to stop the movement or withdrawal of assets while proceedings are underway, the council said. Such actions strengthen accountability and protect public funds from being lost through dissipation.
On the same day the freeze order was announced, former Department of Public Works and Highways (DPWH) Bulacan 1st District assistant engineer Brice Ericson Hernandez voluntarily surrendered a GMC Denali truck, the first vehicle turned over to authorities in connection with the flood control probe.
