ICI seeks forfeiture of ₱5-B assets in 2,800 frozen bank accounts

MANILA, Philippines — The Independent Commission for Infrastructure (ICI), with the help of various government agencies, is now eyeing the forfeiture of at least P5 billion worth of assets contained in 2,800 bank accounts frozen by the Anti-Money Laundering Council (AMLC). The move is part of a whole-of-government initiative aimed at bringing faster “restitution” amid the ongoing probe into anomalous infrastructure projects. ICI executive director Brian Keith Hosaka admitted that criminal charges may take time, given the need for due process. “Each agency will be helping each other on how we can recover the assets that are in possession of […]... Keep on reading: ICI seeks forfeiture of ₱5-B assets in 2,800 frozen bank accounts