AMLA can scrutinize assets of Aman Group with extended freeze order – De Lima

Justice Secretary Leila de Lima INQUIRER FILE PHOTO

MANILA, Philippines–Justice Secretary Leila De Lima said the freeze order extension on the bank accounts of Aman Futures Group will enable the Anti-Money Laundering Council (AMLC) and other authorities to investigate further other assets of Aman.

Aman has been implicated in what is now considered the biggest Ponzi scheme in the country that victimized 15,000 people from Visayas and Mindanao.

The Court of Appeals in open court extended to six months or up to June 2013 the 20-day freeze order it issued against Aman’s bank accounts.

“Such extension is quite justified to enable AMLC and other relevant authorities to thoroughly undertake their mandated tasks vis-a-vis the deposits and other known assets of Aman Futures and affiliate entities and related individuals,” De Lima said in a text message to reporters.

“The AMLA mechanism is a vital component of the accountability process.  What I can safely say is that the fact that the CA granted a six-month extension implies or connotes that assets were indeed frozen. As to how much, the same remains confidential at this point,” she said.