ICI Launches Probe into Air and Water Assets in Major Corruption Case
The Independent Commission for Infrastructure (ICI) has initiated a comprehensive investigation into the air and water assets of numerous individuals and corporations allegedly involved in corruption. This high-profile case targets 140 individuals and up to 300 corporations, marking a significant step in the government's anti-corruption efforts.
Asset Ownership Under Scrutiny
According to Usec. Aboy Paraiso, Chairman of the ICI Technical Working Group, the assets have not yet been frozen as authorities are still determining their true ownership. He explained that some assets are registered under or hidden behind well-known entities, including a prominent petroleum company like Shell. Once the genuine owners are identified and confirmed through registration records, the commission will immediately file for a freeze order to prevent any use or sale of these assets.
Preventing Misuse of Public Funds
Paraiso emphasized that the ICI aims to halt the utilization and disposal of assets potentially purchased with stolen public funds, such as those from flood control projects. The goal is to recover these assets and return them to the government, ensuring that ill-gotten wealth does not benefit corrupt individuals. He noted that the recent freezing of billions of pesos worth of properties belonging to former lawmaker Zaldy Co and others represents only an initial victory in this broader campaign.
Long-Term Objectives of the Investigation
The investigation is part of a larger strategy to combat corruption and reclaim stolen resources. Key objectives include:
- Identifying and securing assets linked to corruption.
- Preventing further misuse of public funds.
- Ensuring accountability for those involved in scandals like the flood control fund misuse.
Paraiso reiterated that the ultimate recovery of stolen wealth remains a primary focus for the independent commission, underscoring its commitment to transparency and justice in infrastructure projects.
