AIR ASSETS WORTH P3.9 billion were frozen by the Anti Money Laundering Council covered by two orders issued on November 25 against a sitting high ranking official from an independent constitutional body and a former elected official.
The latest action brings to 3,566 bank accounts, 198 insurance policies, 247 vehicles, 178 real estate properties and 16 e-wallet accounts now frozen in connection with the alleged scheme.
The total value of seized assets has climbed to P 11.7 billion and is expected to increase further, the AMLC said.
Authorities are intensifying efforts to recover more ill-gotten wealth in kickbacks from the flood control project scandal.
Investigators said the properties are linked to suspected violations of the Anti-Graft and Corrupt Practices Act and malversation of public funds under the Revised Penal Code, according to the AMLC press release.
Already P6.3 billion worth of assets had been frozen as part of the administration’s effort to recover alleged ill gotten wealth already frozen by the AMLC, Solicitor General Darlene Berberabe said.
Berberabe said the AMLC, represented in court by the Office of the Solicitor General (OSG), has so far obtained seven freeze orders, with nine more applications pending.
“These involve bank accounts and real properties. The P6.3 billion already covered by freeze orders is what has been logged in our office so far and the amount is expected to rise as agencies tighten coordination on asset recovery linked to corruption cases, including the ongoing investigations into alleged anomalies in flood control projects, she added.
In a press release, the AMLC said that two freeze orders were for the assets of an incumbent high-ranking official from an independent constitutional body and a former elected government official.
Investigators have linked to possible violations of the Anti-Graft and Corrupt Practices Act (RA 3019) and to Malversation of Public Funds and Property under Article 217 of the Revised Penal Code.
The newly frozen assets include a wide range of financial and physical holdings: 230 bank accounts, 15 insurance policies, two helicopters, and one airplane, with the air assets alone valued at around P3.9 billion.
Berberabe said the administration is relying heavily on laws that shift the burden of proof to public officials, requiring them to explain assets that appear disproportionate to their lawful income.
“There is already a presumption that these are unlawfully acquired. The public officer must now explain—were these inherited, or legitimately acquired before joining the government?” she asked.
“Even if properties are placed under the names of siblings or cousins, they will still have to justify their capacity to purchase such assets.”
She explained that lifestyle checks, land title verification, and reports from communities remained vital tools, given the increasingly sophisticated methods used to conceal property.
“Criminals are also very creative now in hiding assets,” she said.
Berberabe also confirmed that the Department of Justice (DOJ) supported offering monetary rewards for whistleblowers who provide actionable information on hidden wealth.
“If the asset recovered is worth billions and the reward is 10 to 15 percent, the government will still gain significantly,” she quipped.
The Department of Public Works and Highways (DPWH), she added, was developing its own “Balik Yaman” monitoring system to track funds that could be returned to the public.
As agencies prepare for the filing of more cases, Berberabe said the OSG has organized internal task forces—including a Task Force on Restitution—to handle the expanding workload.
“We are setting up centralized and focused efforts. Our divisions, with around 10 lawyers each, are fully engaged. There are daily meetings with the DPWH and ICID,” she said.
“Everyone knows results must be shown. The filing of cases is continuous.”
She said even private establishments, like exclusive clubs where suspicious purchases of golf shares or similar high-value assets are reported, may contribute information—subject to confidentiality rules. Anonymous tips and white papers, she added, could also aid investigators.
She expressed confidence that more assets would be identified and recovered in the months ahead.
Investigators said the properties are linked to suspected violations of the Anti-Graft and Corrupt Practices Act and malversation of public funds under the Revised Penal Code.
“The issuance of the freeze orders will enable AMLC to pursue a more extensive financial investigation to uncover any possible money laundering scheme linked to the flood control projects,” AMLC Executive Director Matthew David said.
He added that the public “can be assured” the council will exhaust all legal remedies to hold those involved accountable.