P5.2-B assets of persons in flood control mess frozen – AMLC

The Anti-Money Laundering Council (AMLC) said that it has so far frozen P5.2 billion in accounts of individuals implicated in anomalous ghost and substandard flood control projects under six freeze orders it has secured from the Court of Appeals.

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Meanwhile, Public Works Secretary Vince Dizon signed separate partnership agreements with the AMLC and the Philippine Competition Commission (PCC) yesterday in efforts to get back the infrastructure funds stolen in various ghost and substandard flood control and other project anomalies the department was investigating in coordination with the Independent Commission for Infrastructure (ICI) and other government agencies.

In the cooperation pact he signed with AMLC executive director Matthew David, Dizon said that this was just one of the strategies being taken by the Department of Public Works and Highways to speed up the recovery of taxpayer funds lost to anomalous public works projects.

The initiative follows President Marcos' directive to claw back public money and redirect it to projects that benefit Filipinos.

Under the agreement, the two agencies will share information and conduct coordinated financial examinations and investigations into transactions involving erring former DPWH officials and favored contractors.

The memorandum of agreement provides for joint case-building on possible money laundering and related financial crimes and paves the way for expedited petitions to freeze assets and bank accounts under the Anti-Money Laundering Act.

Dizon thanked the AMLC for acting swiftly to freeze nearly 2,000 accounts linked to questionable contracts. He added that more assets and accounts are expected to be frozen once the DPWH files cases with the Office of the Ombudsman and the ICI.