Seized flood scam assets near P25 billion – AMLCMANILA, Philippines — The Anti-Money Laundering Council (AMLC) has secured another freeze order as it intensifies its probe into alleged ghost flood control projects, bringing the total value of frozen assets linked to the controversy to nearly P25 billion. The freeze order also covers the assets of a prominent businessman, along with other individuals and entities allegedly connected to the anomalous projects, according to the AMLC. Investigators said the breadth of assets underscores the complex financial trail surrounding the alleged misuse of funds intended for flood control works. To date, the AMLC said the total value of frozen assets has reached P24.7 billion, covering bank accounts, insurance policies, motor vehicles, air assets, real properties, e-wallet accounts, securities accounts and investment accounts. Remulla also warned against what he described as the indiscriminate inclusion of individuals and entities in freeze order petitions, saying transactions must be thoroughly analyzed.

Source: Philippine Star January 31, 2026 16:32 UTC