The Philippines has frozen assets worth nearly 300 million yuan in a corruption case related to flood control projects

Philippine President Ferdinand Marcos Jr. said on Wednesday (November 26) that the country has frozen more assets related to the flood control projects embroiled in corruption scandals, totaling about 12 billion pesos.

Bloomberg reported that in a video posted on Facebook, Marcos Jr. said the sum included a 4-billion-peso plane for the resigned MP Zardi Ko.

According to previous reports by local media, the Civil Aviation Authority of the Philippines has confirmed 13 aircraft, including helicopters and planes from companies associated with the Department.

Last week, Marcos Jr. ordered the arrest of Ko and other people suspected of being involved in this corruption scandal.

This is just the beginning. We will freeze more assets. We promise that the people's money will be returned to the people.

Ko, who is currently at large, previously accused Marcos Jr. of misappropriating funds for flood control infrastructure construction. Marcos Jr. 's office claimed that these accusations were "propaganda".

Marcos Jr. cited data from the Anti-Money Laundering Commission, saying that 3,566 bank accounts, 198 insurance policies, 247 vehicles, 178 properties and 16 e-wallet accounts have been frozen so far.

Last week, the government auctioned off seven luxury cars related to the corruption scandal, including a Bentley Bentayga, a Rolls-Royce Cullinan and a Mercedes-Benz G63 AMG.

Marquez Jr. also pointed out that the Independent Infrastructure Commission and the Ministry of Public Works and Roads would submit evidence to the Ombudsman to support his recommendation to bring charges of plundering, corruption, bribery and conflict of interest against eight lawmakers who own construction companies.

He did not disclose the names of these congressmen.