The Anti–Money Laundering Council (AMLC) announced the issuance of two additional Freeze Orders (FOs) against the assets of “an incumbent high-ranking official from an independent constitutional body and a former elected government official” allegedly linked to the anomalous flood control project scandal.

In a statement posted on its official website, AMLC said the frozen assets were found to be in violation of the Anti-Graft and Corrupt Practices Act, as well as the Malversation of Public Funds and Property provisions under the Revised Penal Code.

“The Freeze Orders encompass 230 bank accounts, 15 insurance policies, two helicopters, and one airplane. The air assets alone are valued at approximately PHP 3.9 billion,” AMLC said.

While the identity of the incumbent official has yet to be disclosed as of press time, President Ferdinand R. Marcos Jr. revealed in a video message that the former government official in question is embattled ex-Congressman Zaldy Co.

“Kasama po dito ang mga air asset ni Zaldy Co na ang value ay mga P4 billion,” Marcos said. Co’s whereabouts remain unknown; however, the former Ako Bicol representative has released a series of videos on his Facebook page implicating Marcos as the alleged mastermind behind around P100 billion in budget insertions tied to ghost flood control projects.

On Tuesday, Co escalated his accusations, this time implicating House Majority Leader Sandro Marcos — the President’s son — in the alleged budget insertion scheme.

“The issuance of the freeze orders will enable AMLC to pursue a more extensive financial investigation to uncover any possible money laundering scheme linked to the flood control projects," said AMLC Executive Director Matthew M. David.

To date, AMLC said it has frozen P11.7 billion worth of assets linked to the flood control scandal, including 3,566 bank accounts, 198 insurance policies, 247 motor vehicles, 178 real properties, and 16 e-wallet accounts — figures AMLC expects to rise as investigations into the floodgate scandal continue.

"The public can be assured that the AMLC will continue to pursue all possible legal remedies to ensure that those involved in the misuse of public funds are held accountable," David added.