By Anna Leah Gonzales
MANILA – The Anti-Money Laundering Council (AMLC) secured a new freeze order on more bank accounts linked to flood control projects.
In a statement, AMLC said the latest freeze order, obtained from the Court of Appeals on Wednesday, covers several additional bank accounts, linked to persons-of-interests, notably including an entity whose license had been allegedly used in the implementation of ghost flood control projects.
To date, the ongoing implementation of the previous four freeze orders secured by the AMLC has led to the freezing of 1,632 bank accounts, 54 insurance policies, 163 motor vehicles, 40 real properties and 12 e-wallet accounts.
This brings the total value of frozen assets to over PHP4.4 billion.
AMLC said that with the issuance of the fifth freeze order, this figure is expected to rise.
“Every freeze order matters. Each freeze order secured strengthens the evidentiary trail, ensuring that illicit funds cannot be concealed or dissipated,” AMLC Executive Director Matthew David said.
AMLC said it will continue to work closely with relevant stakeholders and government agencies to pursue all leads and ensure that funds intended for public welfare are not diverted for unlawful gain. (PNA)
