PDEA-7 orders banks to freeze Sabalones’ assets
PDEA-7 personnel serve the order to freeze the assets of Franz Sabalones to two banks in Cebu City on August 11. (CDN PHOTO/JUNJIE MENDOZA)
Personnel from the Philippine Drug Enforcement Agency in Central Visayas (PDEA 7) and a court sheriff served Provisional Asset Preservation Orders (PAPO) that freezes the assets of alleged drug lord Franz Sabalones in two banks in Cebu City.
The orders, issued by Cebu City Regional Trial Court Executive Judge Gilbert P. Moises, were addressed to the Wealthbank and BDO Ramos branches on Friday afternoon.
Also today, a copy of the same PAPO were also served to to the Register of Deeds offices in Cebu City and Cebu province to freeze the real estate assets of Sabalones.
The court’s PAPO was based on the petition of the Anti Money Laundering Council, which acted on the same recommendation from the PDEA.
The decision to freeze the bank assets of Salabones, which will last for 20 days, will allow the PDEA 7 to determine if Sabalones is still actively involved in illegal drug trade, according to PDEA 7 chief Yogi Filemon Ruiz.
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