AMLC freezesโ Hundreds of Accounts in Flood Control Corruption Investigation
The Anti-Money Laundering Council (AMLC) has obtained a Courtโข of Appeals orderโ to freeze 592 bank accounts, along with three insurance policies, 73 motor vehicles, โคand 18 real properties, as part ofโฃ a probe into alleged corruption surrounding flood control projects. The actionโข targetsโ individuals โขand contractors suspected of involvement in โคthe illicit activities.
The freeze order is a notable step in the government’s efforts toโข combat corruption and recover public funds potentially lost through โขfraudulent schemes. AMLC Executive Directorโข Matthew David stated, “the magnitude of assets covered by the freeze order highlights the alarming scope ofโ 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 โฃmovement of assets while investigations continue and to strengthen accountability.
Authorities announced โthe freeze alongside the voluntary โsurrender of a GMC โDenali truck by former department โขof public Works and Highways (DPWH) Bulacan 1stโฃ District assistant engineer Brice Ericson Hernandez – the first vehicle โฃturned over โin connection with โthe ongoing investigation.
The AMLC’s actionsโค 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.