Court of Appeals freezes assets of prominent lawmaker linked to flood control scam
The Court of Appeals issued a freeze order on bank accounts, investment accounts, an insurance policy and virtual asset wallets tied to a high-profile lawmaker suspected of involvement in a flood-control kickback scheme.
The Anti-Money Laundering Council announced that the Court of Appeals granted a freeze order after determining probable cause that assets linked to a prominent lawmaker stem from plunder. The order encompasses 86 bank accounts, four investment accounts, an insurance policy and 25 virtual-asset wallets, reflecting the use of both traditional and emerging financial channels. investigators found that the money was channeled through numerous corporations, intermediaries and a virtual-asset service, obscuring its origin.
The council highlighted that the scale of the investments could not be justified by any legitimate revenue. The flood-control scandal also involves other officials, such as a senator currently detained for alleged kickbacks and a former House lawmaker who remains at large. Authorities plan to continue working with partner agencies to trace, restrain and recover the suspected illicit funds.
Why it matters
The asset freeze targets alleged corruption in a major public-works scheme, signaling intensified scrutiny of political misuse of financial systems.
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