Government Freezes 28 Water Assets in P4.8 Billion Flood Control Scam Probe
In a significant crackdown on corruption, the government has frozen assets totaling P4.8 billion as part of an ongoing investigation into a massive flood control scam. The seized properties include 28 water assets, among them several yachts, which are suspected to have been purchased using public funds intended for infrastructure projects.
Intensified Scrutiny by Independent Commission
The Independent Commission for Infrastructure (ICI) is leading the probe, with a focus on these maritime assets. Undersecretary Aboy Paraiso, Executive Director of the Cybercrime Investigation and Coordinating Center (CICC) and head of the ICI's Technical Working Group, confirmed that the Anti-Money Laundering Council (AMLC) has issued freeze orders covering these vessels. While the owners have not been publicly named, Paraiso emphasized that authorities are closely coordinating with the Maritime Industry Authority (MARINA) for verification purposes, and the number of confiscated vehicles may increase as the investigation progresses.
Warning to Those Involved in the Anomaly
Paraiso issued a stern warning to individuals implicated in the scam, stating that hiding assets will be futile. He highlighted that through advanced technology and digital investigation methods, the government is committed to tracking down and recovering every cent stolen from flood control project funds. This move underscores a broader effort to combat financial crimes and ensure accountability in public spending.
The investigation continues to unfold, with authorities leveraging modern tools to uncover further details and potentially expand the scope of asset seizures. This case highlights the ongoing challenges in safeguarding public resources and the determination of officials to address corruption in infrastructure projects.
