Marcos orders recovery of stolen funds

President Ferdinand R. Marcos Jr. has directed that public funds siphoned off through fraudulent flood control projects be recovered, Malacañang said Wednesday.

In a press briefing, Palace Press Officer Claire Castro said the President was focused not only on the legal accountability but also on returning the stolen funds to the Filipino people.

“It’s not enough to just file cases against those involved in the anomalous flood control projects,” Castro said. “It’s also not enough for them to be jailed, because what President Marcos wants is for the people’s money to be returned.”

Following the President’s directive, several government agencies moved quickly to recover embezzled funds, including freezing the bank accounts and properties of individuals linked to the irregular Department of Public Works and Highways (DPWH) projects.

Public Works Secretary Vince Dizon said the freeze order was part of President Marcos’s broader anti-corruption campaign and his push to restore integrity in government infrastructure programs.

Castro revealed that the DPWH, with support from the Anti-Money Laundering Council (AMLC), has sought to freeze around P5 billion in air assets reportedly registered under companies linked to Ako Bicol Partylist Representative Zaldy Co. 

Nearly P500 million in luxury vehicles owned by contractors and other implicated individuals have also been targeted for asset freezing.

The move follows President Marcos’ firm statements during his fourth State of the Nation Address last 28 July, where he denounced the widespread corruption in major infrastructure projects and called for a thorough investigation into questionable DPWH flood control programs.