MANILA — The Anti-Money Laundering Council (AMLC) has secured freeze orders covering ₱12 billion worth of assets tied to ongoing corruption investigations, including air assets owned by former lawmaker Zaldy Co, President Ferdinand Marcos Jr. announced on Wednesday.

In a video statement, Marcos said two freeze orders were issued, targeting a wide range of assets believed to be connected to illicit activities.

“Kasama po dito ang mga air asset ni Zaldy Co ang value mga ₱4 billion,” the President said, adding that authorities also froze 3,566 bank accounts, 198 insurance policies, 247 motor vehicles, 178 real properties, 16 e-wallet accounts, and additional aircraft.

Marcos said more assets are expected to be recovered as the investigations progress.

“This is only the start. The money of the people will be given back to the people,” he said.

Co, who chaired the House committee on appropriations until recently, has been out of the country for several months—long before the alleged flood control corruption scheme in Negros Oriental surfaced. He is now considered at large after a court issued a warrant for his arrest in connection with the scam.

The former lawmaker earlier accused President Marcos of being behind a supposed ₱100-billion insertion in the proposed 2025 national budget, but lawmakers and officials urged him to substantiate his claims in court instead of airing them on social media.