The Anti-Money Laundering Council (AMLC) has frozen approximately ₱5.2 billion worth of assets linked to officials and contractors of the Department of Public Works and Highways (DPWH) due to the flood control corruption scandal.
According to AMLC Executive Director Matthew David, six freeze orders from the Court of Appeals have been implemented, and more are expected to be added as the valuation of properties and bank accounts continues. More than 2,000 bank accounts have been affected by the investigation.
David has not yet revealed the names of the officials and contractors, but confirmed that they include several DPWH employees, contractors, and their accomplices. A bank inquiry is currently being conducted to determine if there were large amounts of winithdraw.
The investigation includes deposits, withdrawals, and property acquisitions since President Ferdinand “Bongbong” Marcos Jr. announced the investigation into flood control projects. The AMLC is also studying the possibility of money laundering, bribery, and plunder.
The AMLC is now coordinating with the NBI and DOJ to seize the money hidden in the house and other places. Up to ₱500 million worth of vehicles of those involved were previously tried to be frozen by the DPWH in September, while assets abroad are still being sought.
