The ongoing investigation into alleged anomalies in government flood control projects has uncovered a staggering revelation — about ₱5 billion worth of bank accounts have been frozen, according to the Independent Commission for Infrastructure (ICI).
ICI executive director and spokesperson Brian Hosaka shared the update on Thursday, confirming that around 2,800 accounts were placed on hold by authorities.
“What we want to recover, we can’t say for now because it’s a moving target,” Hosaka admitted during a press conference.
He explained that while the exact amount remains fluid, the Anti-Money Laundering Council (AMLC) provided a rough estimate of the frozen funds — a figure that paints a troubling picture of the scale of alleged irregularities.
As of last week, the AMLC has already secured its sixth freeze order from the Court of Appeals, targeting assets tied to individuals and companies connected to the probe.
But the process doesn’t end there. Hosaka said the next crucial step is forfeiture — the legal action to permanently seize the assets once the court confirms their unlawful origins.
“That’s next, right? After you freeze, you have to justify forfeiture,” he explained.
Hosaka added that the accounts would remain frozen throughout the forfeiture proceedings, ensuring that the funds cannot be withdrawn or transferred while the case is ongoing.
“There’s going to be an application before the Court of Appeals. Initially, if granted, it lasts for 20 days and can be extended for another six months,” he said.
“Eventually, as the forfeiture case is being heard, these assets will stay frozen.”
This massive freeze order marks one of the most significant developments yet in the flood control investigation — a case that continues to unravel layers of corruption, accountability, and hope for justice in the country’s public infrastructure system.
