MANILA — Content creator Small Laude, through her husband’s legal counsel, has denied any involvement of businessman Philip Laude in alleged illegal activities following reports linking him to a controversial joint bank account with ACT-CIS Party-list Rep. Edvic Yap.

In a statement, Divina Law said Philip Laude is a private businessman engaged in legitimate enterprises and has never “participated in, benefited from, or facilitated any illegal transactions,” whether directly or indirectly.

The law firm clarified that no corporation or formal partnership was ever formed between Laude and Yap. It said Yap had merely invited Laude to consider a “preliminary and exploratory” investment in a proposed joint venture before Yap was elected to public office.

“This discussion was preliminary and exploratory and never ripened into a formal partnership, corporation, or other juridical entity,” the statement read.

Divina Law added that the proposed joint venture was never implemented, no business operations were commenced, and no government project, procurement, or transaction was ever pursued.

“Upon Mr. Yap’s election to public office, the contemplated venture did not proceed, and the bank account was closed, precisely to avoid any issue, misinterpretation, or appearance of impropriety,” it said.

The law firm acknowledged that a bank account was opened in connection with the potential venture but stressed that this was done lawfully and at a time when Yap was still a private citizen.

“Any attempt to link Mr. Laude to alleged irregularities or controversies involving public officeholders is therefore factually baseless and misleading,” it said, adding that a mere invitation to invest and preparatory steps taken before an individual assumes public office do not constitute wrongdoing or impropriety.

On December 10, President Ferdinand Marcos Jr. disclosed that the Court of Appeals had ordered the freezing of nearly 300 bank accounts and assets worth about P16 billion allegedly linked to a flood-control scandal involving Rep. Yap and his brother, Eric.

Marcos said the Anti-Money Laundering Council had placed under scrutiny 280 bank accounts, three securities accounts, 22 insurance policies, and various properties connected to the Yap brothers, as well as Silverwolves Construction Corp. and Sky Yard Aviation Corp.

Among the high-value assets identified were a helicopter and seven other aircraft.