Frozen assets linked to flood control scandal reach nearly P12 billion

PRESIDENT Ferdinand R.Marcos, Jr. on Wednesday said more assets linked to the flood control scandal have been frozen, bringing the total so far to around P12 billion.“This is only the start. More assets will be frozen to return the people’s money to them,” Mr, Marcos said in mixed Filipino and English in avideo posted on his Facebook page.

- Chloe Mari A. Hufana and Katherine K. Chan

“This is our promise: the money of the people will be given back to the people.”

The Anti-Money Laundering Council (AMLC) said in a separate statement that it has secured two more freeze orders, which brought the total value of all frozen assets linked to the flood control mess to P11.7 billion. This included 3,566 bank accounts, 198 insurance policies, 247 motor vehicles, 178 real propertiesand 16 e-wallet accounts.

AMLC said the two new freeze orders cover the assets of an incumbent high-ranking official from an independent constitutional body and a former elected government official. It did not name the officials.

“The freeze orders encompass 230 bank accounts, 15 insurance policies, two helicopters and one airplane. The air assets alone are valued at approximately P3.9 billion,” the AMLC said.

While the AMLC did not identify the owner of the air assets, Mr. Marcos said these belong to former Ako Bicol Party-list Rep. Elizaldy S. Co.