Asset seizure in flood mess sought

THE Anti-Money Laundering Council (AMLC) has moved to recover certain assets linked to the controversial flood control corruption scandal over half a year since investigations started.

In a statement on Wednesday, the AMLC said it filed three petitions for civil forfeiture before a regional trial court in Manila after it obtained multiple freeze orders last year for multi-billion pesos worth of assets tied to the government’s anomalous flood control projects.

“Following the extensive investigation and finding of probable cause, the AMLC filed three petitions for civil forfeiture before the Regional Trial Court in Manila,” the council said. “The petitions cover the properties of individuals and entities subject to several freeze orders issued by the Court of Appeals.”

It did not disclose the value or volume of the assets subject to the petitions.

According to the AMLC, it now has two provisional asset preservation orders set to protect the monetary instruments and properties while it awaits the court’s final decision.

In a separate statement, the financial intelligence unit said it has so far secured freeze orders for assets amounting to P27.8 billion, including 7,970 bank accounts, 219 real properties, 253 motor vehicles and 11 aircraft owned by 862 individuals and 648 entities.

“Given the scale and intricacy of the data, the AMLC is proceeding with deliberate care to ensure that all evidence is complete and accurate,” it noted. “This is essential not only to uphold the integrity of the investigation but also to ensure that the cases, once filed, are supported by robust and admissible evidence capable of withstanding judicial scrutiny.”

The AMLC said it will file more petitions to recover the funds involved in the flood mess. — Katherine K. Chan