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Philippine Court Freezes Crypto Wallets in Corruption Probe

Guavy AI Editorial Team
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A Philippine Court of Appeals has frozen 25 virtual-asset wallets linked to a lawmaker and related parties as part of an investigation into alleged corruption in flood-control projects and the misappropriation of public funds.

The order also covers 86 bank accounts, four investment accounts, and one insurance policy.

The Anti-Money Laundering Council (AMLC) stated that funds moved through virtual-asset service providers and multiple wallets, then among recipients and through different financial channels.

The freeze preserves assets during the investigation and does not establish that anyone has been convicted.

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