The Philippine Court of Appeals ordered the freeze of 116 financial assets linked to an unnamed lawmaker on September 21, 2026, including 25 virtual asset wallets, the Anti-Money Laundering Council (AMLC) announced on October 1, 2026.

The order, issued under Republic Act No. 7080, the Philippines' Plunder Law, covers 86 bank accounts, four investment accounts, one insurance policy and the 25 wallets. Investigators said they established probable cause connecting the assets to a kickback scheme involving flood-control projects.

What did the AMLC find?

According to the AMLC's documented findings, the routing pattern "deliberately" obscured where the proceeds originated. Funds moved through "numerous intermediaries, financial institutions and digital platforms," the council stated, and several balances could not be reconciled against the account holders' operational revenues.

The freeze is the latest procedural step in a case that surfaced in 2025 and has since drawn in multiple lawmakers. Earlier rounds of asset freezes have already covered sums totaling tens of billions of pesos.

Why are crypto wallets in the same enforcement frame?

The council singled out digital financial channels as central to how the alleged proceeds were moved. That language places virtual asset platforms inside the same enforcement perimeter as the banks and intermediaries cited in the order.

• 25 virtual asset wallets out of 116 frozen assets (roughly 21.6% by count)
• 86 bank accounts, four investment accounts and one insurance policy round out the rest
• Previous freezes have already reached tens of billions of pesos

The wallets represent a small slice of the total by count, but they sit at the operational heart of the tracing question.

What confidentiality rules are in play?

The identities of the account holders and associated parties remain undisclosed. Legal confidentiality protections cover them while the case advances, and any eventual naming would likely sharpen political and public attention on the probe.

What is the legal basis for the order?

Republic Act No. 7080, the Plunder Law, provides the statutory ground for the freeze. Investigators must show that holdings are linked to illicit proceeds before assets can be preserved under the statute.

What happens next for the digital asset portion?

The 25 wallets will test how effectively Philippine authorities can trace and preserve funds held on-chain. Investigators will need to coordinate with virtual asset service providers to enforce the freeze on assets that, by design, can move without traditional intermediaries.

The case enters a phase where disclosure timing, asset-tracing execution and the cumulative peso value of frozen holdings will determine how far the probe extends beyond the unnamed lawmaker at its center.