Order covers bank accounts, real estate properties—AMLC
The Anti-Money Laundering Council (AMLC) announced on Thursday it has secured a freeze order from the Court of Appeals on the assets of key individuals linked to illicit Philippine Offshore Gaming Operator (POGO) activities.
The court’s decision freezes various bank accounts, real properties, and personal assets connected to the suspected members of the syndicate.
Key individuals identified include suspended Mayor Alice Leal Guo of Bamban Tarlac, Zhiyang Huang, and Baoying Lin. These individuals are suspected of orchestrating human trafficking and fraudulent activities through entities such as Zun Yuan Technology Inc., BAOFU Land Development Inc., and Hongsheng Gaming Technology Inc.
The freeze order was approved last Monday, July 8, based on Section 10 of Republic Act No. 9160 or the Anti-Money Laundering Act of 2001 and Rule 10 of its 2018 Implementing Rules and Regulations.
This major development follows extensive investigations and joint operations led by the Presidential Anti-Organized Crime Commission (PAOCC) and the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) in the government’s crackdown on illegitimate POGOs.
The investigation uncovered significant financial transactions and assets amassed by these individuals, raising suspicions of their involvement in money laundering, human trafficking, and other illicit operations.
The illicit activities linked to these individuals include the operation of an unauthorized POGO at Zun Yuan Technology Inc., which engaged in human trafficking, serious illegal detention, and online scam schemes. The operations were conducted within BAOFU Land Development Inc., which housed numerous workers, including trafficked individuals forced to participate in fraudulent online activities.
The Court of Appeals’ approval of the freeze order encompasses 90 bank accounts across 14 financial institutions, several real properties, and high-value personal assets such as luxury vehicles and a helicopter.
Executive Secretary Lucas Bersamin emphasized the urgency of this action, stating, “It is imperative that we take swift and decisive measures to halt the operations of those who exploit our financial system for illegal activities. I instructed the AMLC to file for a freeze order to ensure that the assets of these individuals and entities are preserved and cannot be used to further their unlawful schemes.”
The AMLC said it remains committed to combating money laundering and ensuring that the financial system is not a conduit for illicit activities. The issuance of the freeze order by the Court of Appeals is a testament to the council’s dedication to upholding the rule of law and protecting the public from financial crimes.
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