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Keisha Ta-Asan - The Philippine Star
December 6, 2025 | 12:00am
Pedestrians cross on a makeshift pathway along P. Burgos Street in Manila as gutter-deep floodwaters cover the road following a heavy downpour on September 6, 2025.
Noel Pabalate / The Philippine STAR
MANILA, Philippines — The total value of frozen assets of construction companies has reached P13 billion and is projected to rise further as the investigation deepens, the Anti-Money Laundering Council (AMLC) has said.
The statement came after the AMLC secured another freeze order against a private construction company tagged as having the most “ghost” flood-control projects in the ongoing corruption controversy.
In a statement, the AMLC said the Court of Appeals granted the order on Dec. 4, covering the assets of the firm along with several entities and individuals linked to it.
The move marks a significant escalation in the probe, which has steadily expanded since the first batch of anomalous flood control projects surfaced earlier this year.
The latest freeze order covers 280 bank accounts, 22 insurance policies, three securities accounts and eight air assets.
The appellate court ruled that there were sufficient grounds connecting these properties to possible violations of Republic Act 3019 or the Anti-Graft and Corrupt Practices Act, as well as potential malversation under Article 217 of the Revised Penal Code.
“The filing of this petition for a freeze order underscores the AMLC’s firm commitment to recover every peso of public funds that may have been misused,” AMLC executive director Matthew David said.
The flood control anomaly has led to a widening investigation involving contractors, intermediaries and government officials.
Authorities earlier discovered infrastructure projects that were either overpriced or had no physical implementation, prompting watchdogs and lawmakers to raise concerns over procurement loopholes and weak oversight mechanisms.
With the latest order, authorities have so far secured 4,679 bank accounts, 283 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts and three securities accounts.
The AMLC has issued successive freeze orders over the past weeks, including those against high-ranking government officials and former public servants whose assets were tied to questionable projects.
Citing confidentiality rules while investigations are ongoing, the AMLC has not released the identities of the individuals and companies involved.
