Manila: The Anti-Money Laundering Council (AMLC) has filed civil forfeiture suits at the Manila Regional Trial Court (RTC) and secured asset preservation orders over frozen properties of individuals and corporations implicated in the ghost flood control projects.
According to Philippines News Agency, the AMLC has filed three petitions for civil forfeiture before the Regional Trial Court in Manila. These petitions target the properties of individuals and entities under several freeze orders issued by the Court of Appeals. The AMLC noted that the RTC has issued two provisional asset preservation orders related to these petitions, aimed at safeguarding monetary instruments and properties until the Court reaches a final decision.
Civil forfeiture proceedings are actions against property suspected to be the proceeds or instrumentalities of crime, rather than against individuals. This allows the government to seize assets, such as ill-gotten wealth, without a criminal conviction and based on a lower burden of proof known as the 'balance of probabilities.' The intention is to dismantle the financial power of criminal organizations and recover public funds.
The AMLC emphasized the importance of proceeding with care, ensuring all evidence is complete and accurate to uphold the integrity of the investigation and to withstand judicial scrutiny. The filing of civil forfeiture cases is seen as a crucial step to recovering illicit proceeds linked to anomalies in flood control projects.
The action represents the first of several petitions aimed at recovering funds associated with corrupt practices in flood control projects. The initial freeze order from the Court of Appeals last September covered 135 bank accounts and 27 insurance policies belonging to individuals and corporations.
By the end of September, the value of frozen assets totaled PHP2.9 billion. By December, the AMLC reported that the Court of Appeals had issued freeze orders on 4,679 bank accounts, 283 insurance policies, 255 motor vehicles, 178 real properties, 16 e-wallet accounts, and three securities accounts, with a cumulative value of PHP13 billion.
