The Philippine Court of Appeals issued an order to freeze 116 financial assets associated with an unnamed lawmaker. The decision, dated September 21, 2026, was announced by the Anti-Money Laundering Council on October 1, 2026.
The frozen assets include 25 crypto wallets, 86 bank accounts, 4 investment accounts, and 1 insurance policy. The action is part of an investigation into alleged kickbacks related to government flood-control projects under the Plunder Law.
Investigators claim that funds were routed through various intermediaries and digital platforms to obscure their origins. The Anti-Money Laundering Council noted that the accounts contained large sums that could not be justified by operational revenues.
This case is part of a broader scandal that emerged in 2025, which has previously led to asset freezes totaling tens of billions of pesos. Authorities are now testing their ability to trace and preserve funds held in digital asset wallets.
