CA freezes assets of ‘prominent lawmaker,’ associates tagged in flood control controversy

October 1, 2026

By ABOGADO.COM.PH Staff

The Anti-Money Laundering Council said the Court of Appeals has frozen dozens of bank, investment and virtual asset accounts linked to a “prominent lawmaker” and other individuals and entities allegedly tied to the flood control corruption controversy.

The freeze order from the CA covers 86 bank accounts, four investment accounts, one insurance policy, and 25 virtual asset wallets.

The AMLC said the CA issued the order after finding probable cause that the assets were linked to plunder.

It said its probe found that the individuals had no operating revenues to support the scale of their investments, and that the funds linked to these investments moved through intermediaries, corporations, bank accounts, a money service business, and a virtual asset platform.

It noted that there has been an increasing use of financial technology, such as virtual asset wallets, in transactions involving suspicious funds.

These platforms add another layer to the movement of money that makes it harder to trace, it said.

The AMLC said it remains committed to protecting the integrity of the financial system and supporting accountability in public service.

It will continue to work with government offices and other partners to run after suspected illicit assets and to put a stop to the use of traditional and new financial channels to stop corruption and money laundering.