Amid Flood Control Mess, Cebu Economy Strong, Recto Says

AMLC freezes 592 bank accounts in flood control probe

The Anti-Money Laundering Council (AMLC) has secured an order from the Court of Appeals to freeze 592 bank accounts suspected of being linked to anomalous flood control projects.In a statement on Friday, the AMLC said the order also covered three insurance policies, 73 motor vehicles, and 18 real properties belonging to individuals and contractors implicated in the controversy.“The magnitude of assets covered by the freeze order highlights the a…

AMLC: 592 bank counts frozen in flood control projects mess

The Anti-Money Laundering Council (AMLC) has received another freeze order from the Court of Appeals covering 592 bank accounts of individuals and contractors linked to the irregularities in the flood control projects in the country.

Amid flood control mess, Cebu economy strong, Recto says

CEBU CITY, Philippines – Calling it the nation’s ‘powerhouse’, Finance Secretary Ralph Recto expressed optimism about Cebu’s economy amid controversies on alleged corruption tied to flood control projects.  Recto hailed the island province for leading Central Visayas in terms of economic growth, at a rate of 7.3 percent for two straight years — outpacing the national average.  “Cebu has outgrown its role as a regional hub. It now stands as a nat…