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Keisha Ta-Asan - The Philippine Star
February 1, 2026 | 12:00am
MANILA, Philippines — The Anti-Money Laundering Council (AMLC) has secured another freeze order as it intensifies its probe into alleged ghost flood control projects, bringing the total value of frozen assets linked to the controversy to nearly P25 billion.
In a ruling issued Friday, the Court of Appeals ordered the freezing of bank accounts belonging to two contractors that cornered the bulk of flood control projects in Bulacan province but were later found to be non-existent.
The freeze order also covers the assets of a prominent businessman, along with other individuals and entities allegedly connected to the anomalous projects, according to the AMLC.
The appellate court ruled that the assets may be linked to possible violations of Republic Act 3019, or the Anti-Graft and Corrupt Practices Act, as well as malversation of public funds under Article 217 of the Revised Penal Code.
Under the latest order, authorities froze 379 bank accounts, four e-wallet accounts, 10 insurance policies, nine securities accounts, 10 investment accounts and 55 real properties.
Investigators said the breadth of assets underscores the complex financial trail surrounding the alleged misuse of funds intended for flood control works.
“Through our continued investigation into these anomalous flood control projects, the AMLC reaffirms its commitment to safeguarding public resources and sends a clear message that corruption must be exposed at its roots,” AMLC executive director Matthew David said in a statement.
The new freeze order adds to the growing list of assets restrained in connection with the flood control scandal, which has prompted increased scrutiny over project validation, contractor concentration and weak oversight.
To date, the AMLC said the total value of frozen assets has reached P24.7 billion, covering bank accounts, insurance policies, motor vehicles, air assets, real properties, e-wallet accounts, securities accounts and investment accounts.
The amount is expected to rise further as authorities continue to examine assets covered by the latest order, the council added.
The AMLC declined to identify the contractors, businessman or other entities involved, citing confidentiality rules while the investigation is ongoing.
‘Coordinate with us’
As the AMLC continues to secure freeze orders, Ombudsman Jesus Crispin Remulla reminded the council to coordinate with investigating agencies to ensure the proper and timely filing of cases linked to the flood control scam.
Remulla said the freezing of assets should be accompanied by case buildup and close coordination with bodies such as the Office of the Ombudsman, Department of Justice and the National Bureau of Investigation.
“One of the problems I am looking into right now is the practices of Anti-Money Laundering [Council] and the banks, because it seems like they are turning it into an opportunity to generate income. They are just freezing and floating the assets. We have a problem there,” Remulla said.
“You only have limited time to file the cases [after securing freeze orders]. So, you have to consult, you have to be knowledgeable in the way things run. If you don’t know it, ask questions. Consult the NBI, the DOJ and the ombudsman. Coordinate with us,” he added.
Remulla also warned against what he described as the indiscriminate inclusion of individuals and entities in freeze order petitions, saying transactions must be thoroughly analyzed.
He stressed that under the law, cases must be filed within the validity of a freeze order or risk its automatic lifting, adding that the AMLC should also adopt a mechanism to correct wrongful freezing of assets. — Elizabeth Marcelo
