A Court of Appeals freeze order has locked down a sprawling set of financial assets tied to a “prominent” legislator implicated in the country’s flood control corruption scandal, the Anti-Money Laundering Council announced Friday.
The order, granted after the appellate court found probable cause linking the assets to plunder, bribery, and graft, covers accounts held by three parties: the unnamed lawmaker, an alleged business associate, and a corporate entity connected to the case.
Taken together, the frozen assets include 54 bank accounts, 20 insurance policies, an investment account, seven property accounts, and at least one real estate property.
AMLC Executive Director Ronel Buenaventura framed the action as part of a broader institutional mandate. “The filing of this Petition for Freeze Order underscores the AMLC’s continuous commitment to uphold public accountability and protecting the integrity of the Philippine financial system,” he said.
Under Philippine law, a freeze order functions as a holding measure — preserving assets in place before any formal forfeiture case is filed in court.
The Friday announcement brings the AMLC’s total civil forfeiture petitions filed before Regional Trial Courts in connection with flood control irregularities to 12, with proceedings spread across multiple jurisdictions.
