President Ferdinand R. Marcos Jr. on Tuesday announced that the Court of Appeals (CA) has issued a new freeze order covering hundreds of bank accounts, corporate assets, and aircraft believed to be linked to alleged irregularities in government flood control projects.

In a video message posted on his social media accounts, the President said the freeze order targets properties associated with Silverwolves Construction Corporation and Sky Yard Aviation Corporation, as well as personal accounts and assets of individuals implicated in the ongoing investigation, including Benguet Rep. Eric Yap and ACT-CIS Party-list Rep. Edvic Yap.

“Mga kababayan ko, naglabas na ang Court of Appeals ng freeze order laban sa mga bank account, ari-arian at sasakyang panghimpapawid na may kaugnayan sa mga anomalyang flood control project na iniimbestigahan ngayon ng gobyerno (My countrymen, the Court of Appeals has issued a freeze order against bank accounts, properties, and aircraft linked to the anomalous flood control projects currently being investigated by the government),”Marcos said.

Marcos said the CA directive stems from the scale of the suspected anomalous transactions, which allegedly funneled more than P16 billion through Silverwolves from 2022 to 2025, funds purportedly tied mostly to Department of Public Works and Highways (DPWH) flood control contracts.

He stressed that both corporate and personal financial assets were affected by the order.

“May mahigit 16 billion na ang pumasok sa mga transaksyon ng Silverwolves mula 2022 hanggang 2025 na karamihan ay may kaugnayan sa mga flood control project ng DPWH (More than P16 billion has flowed into Silverwolves’ transactions from 2022 to 2025, most of which were linked to DPWH flood control projects),” he said.

Marcos outlined the breadth of the freeze order, listing 280 bank accounts, 22 insurance policies, three securities accounts, and eight aircraft, including planes and helicopters linked to Sky Yard Aviation Corporation, as among the assets placed on hold.

“Kailangan natin ang mga freeze order na ito para hindi maibenta ang mga ari-arian at para maibalik natin sa ating mga kababayan ang bawat pisong pinaghihinalaang ninakaw (We need these freeze orders so the assets cannot be sold and so we can return to our people every peso suspected to have been stolen),” he added.

The President also reported developments in the legal proceedings surrounding DPWH personnel allegedly connected to the scheme. He said eight DPWH employees from Davao Occidental have already informed the National Bureau of Investigation (NBI) of their intention to surrender.

He added that the warrant of arrest for Sara Discaya, also linked to the controversial projects, is expected to be issued within the week.

Marcos reassured the public that the government’s investigation will persist until accountability is achieved and misused funds are recovered.

“Magpapatuloy ang imbestigasyon. Magpapatuloy ang pagpapanagot at titiyakin ng pamahalaan na ang pera ng bayan ay maibabalik sa taong-bayan (The investigation will continue. Accountability will continue, and the government will ensure that the people’s money is returned to the public),” he said.

In October, Ombudsman Jesus Crispin “Boying” Remulla identified Eric Yap as a “person of interest” in connection with fully paid yet unfinished flood control projects in La Union, allegedly implemented by a company he once owned.

Remulla also disclosed that Edvic Yap and Bulacan Rep. Salvador Pleyto purportedly received funds through bank transfers from contractors Curlee and Sarah Discaya. Pleyto has denied the allegations.

Eric Yap, who served as House appropriations committee chair during the administration of former President Rodrigo Duterte, likewise denied any involvement in the flood control controversy after his name surfaced during a Senate hearing in September.