The Philippine Court of Appeals has frozen 116 financial assets connected to a lawmaker under investigation for alleged kickbacks from government flood-control projects. The freeze order, dated September 21, 2026, was announced by the Anti-Money Laundering Council (AMLC) on October 1, 2026.
The frozen assets comprise 86 bank accounts, 4 investment accounts, 1 insurance policy, and 25 virtual asset wallets linked to the lawmaker and associated parties. Investigators cite probable cause under Republic Act No. 7080, the Philippines' Plunder Law, connecting the assets to a widespread kickback scheme.
According to AMLC findings, funds were allegedly routed through numerous intermediaries, financial institutions, and digital platforms to obscure their origins. The council also flagged large sums that could not be justified by operational revenues.
The identities of individuals tied to these accounts remain confidential under legal protections while the case proceeds.
Broader Investigation
The flood-control scandal first emerged in 2025 and has expanded to involve multiple lawmakers. Previous rounds of asset freezes have already covered sums totaling tens of billions of pesos, with investigations revealing what authorities describe as pervasive misconduct across various government entities.
Digital Assets in Focus
The AMLC identified digital financial channels as instrumental in obscuring the movement of funds, placing virtual asset platforms alongside traditional banks and intermediaries in the investigation. The 25 crypto wallets represent a portion of the total frozen assets and serve as a test case for how effectively authorities can trace and preserve funds held in digital form.
