28 Water Assets and Yachts Subject to Freeze Order in Flood Control Anomaly Probe
The Anti-Money Laundering Council (AMLC) has issued a freeze order on 28 water assets, including several yachts, which are allegedly connected to anomalies in government flood control projects. This move is part of an ongoing investigation into irregularities that have raised concerns about public fund management.
Ongoing Verification and Potential Asset Increase
According to ASec. Renato Paraiso, Chairman of the Independent Commission for Infrastructure (ICI) Technical Working Group, the number of identified assets may increase as the Maritime Industry Authority (Marina) continues its search and verification processes within the maritime sector. The ICI official did not disclose specific details about the individuals or entities involved, maintaining confidentiality during the probe.
Links to Former Representative Zaldy Co Under Scrutiny
Previously, ASec. Paraiso confirmed that some of the yachts under investigation have been reported as connected to former Ako Bicol Party-list Representative Zaldy Co. This connection adds a political dimension to the case, highlighting the broad scope of the inquiry into potential misuse of resources.
Total Asset Value Frozen Reaches P4.8 Billion
In total, the ICI reported that assets worth approximately P4.8 billion related to the anomalous projects have been frozen by the government. This significant amount underscores the scale of the alleged irregularities and the authorities' commitment to addressing corruption in infrastructure projects.
The freeze order aims to prevent further dissipation of assets while investigations proceed, ensuring accountability and transparency in public spending. The case continues to develop as more details emerge from the ongoing verification efforts.
