Manila: Around PHP3.9 billion worth of assets belonging to a high-ranking official and a former elected official have been issued freeze orders as part of the government's ongoing investigation into anomalous flood control projects. The Anti-Money Laundering Council (AMLC) announced in a press release that the freeze orders were secured on Tuesday, encompassing 230 bank accounts, 15 insurance policies, two helicopters, and an airplane tied to an incumbent official of an independent constitutional body and a former elected official.

According to Philippines News Agency, the assets have been linked to violations of Republic Act No. 3019, known as the Anti-Graft and Corrupt Practices Act, and Malversation of Public Funds and Property under Article 217 of the Revised Penal Code, as amended. While the AMLC did not disclose the identities of the asset owners, Executive Director Matthew David emphasized that the issuance of the freeze orders will allow the AMLC to conduct a more comprehensive financial investigation to uncover any potential money laundering schemes associated with the flood control projects.

David assured the public that the AMLC will continue to explore all legal avenues to ensure that individuals involved in the misuse of public funds are held accountable. The investigation into the questionable government flood control projects has so far resulted in the issuance of freeze orders against 3,566 bank accounts, 198 insurance policies, 247 motor vehicles, 178 real properties, and 16 e-wallet accounts, with a total value of approximately PHP11.7 billion.