AMLC freezes Hundreds of Accounts in Flood Control Corruption Investigation
The Anti-Money Laundering Council (AMLC) has obtained a Court of Appeals order to freeze 592 bank accounts, along with three insurance policies, 73 motor vehicles, and 18 real properties, as part of a probe into alleged corruption surrounding flood control projects. The action targets individuals and contractors suspected of involvement in the illicit activities.
The freeze order is a notable step in the government’s efforts to combat corruption and recover public funds potentially lost through fraudulent schemes. AMLC Executive Director Matthew David stated, “the magnitude of assets covered by the freeze order highlights the alarming scope of corruption. This action is part of our mandate to trace, preserve, and recover assets derived from unlawful activities.” The order is preventative, designed to halt the movement of assets while investigations continue and to strengthen accountability.
Authorities announced the freeze alongside the voluntary surrender of a GMC Denali truck by former department of public Works and Highways (DPWH) Bulacan 1st District assistant engineer Brice Ericson Hernandez – the first vehicle turned over in connection with the ongoing investigation.
The AMLC’s actions underscore a broader commitment to addressing corruption within infrastructure projects and ensuring the responsible use of public resources. The council emphasized that the asset freeze will protect public funds from dissipation as legal proceedings progress.