EMBATTLED former Ako Bicol party-list representative Zaldy Co detailed the alleged delivery of almost P56 billion to former House Speaker Martin Romualdez and President Ferdinand “Bongbong” Marcos Jr.
In a video statement released through his social media Monday, November 24, 2025, Co said a total of P55,418,874,054.00 was delivered to Romualdez from September 1, 2022, to August 5, 2025.
“Noong 2022, kakaupo ko pa lamang bilang chairman ng House Committee on Appropriations, sinabi na agad sa akin ni Speaker Romualdez na kailangan kong makapag-deliver ng P2 billion kada buwan,” Co said.
(In 2022, when I had just assumed the position as chairman of the House Committee on Appropriations, Speaker Romualdez immediately told me that I needed to deliver P2 billion every month.)
“Ang sinabi mismo ni Speaker Romualdez sa akin ay hati sila ni Pangulong Marcos sa perang iyon,” he added.
(What Speaker Romualdez himself told me was that he and President Marcos would split that money.)
After receiving the instruction from Romualdez, Co said he received a call from then Department of Public Works and Highways (DPWH) Undersecretary Roberto Bernardo, who was asking for help with Bulacan province’s flooding problem.
He said Bernardo sent to his office then DPWH Bulacan First District Engineer Henry Alcantara, who explained to him the commission scheme for flood control projects—22 percent for Romualdez, two percent for Bernardo, and one percent for him.
“Doon nagsimula ang tinatawag nilang ‘deliveries,’” said Co.
(That was where what they called the “deliveries” began.)
He said Alcantara’s staff would coordinate with his staff, John Paul Estrada and Mark Ticsay, for the delivery of the money.
Co said Estrada and Ticsay, upon receiving the money contained in suitcases, would then deliver it to Romualdez’s residences in Forbes Park.
“Gusto ko pong linawin, hindi ako nakikialam sa mismong proseso ng paghahatid. Dumaan lang po sa akin ang pera na agad dinideliver kay Speaker Romualdez. Ako lang po ang nagko-conforma sa text kay Speaker kapag nadala na ang pera sa bahay niya,” he said.
(I want to clarify that I did not get involved in the actual delivery process. The money merely passed through me before being immediately delivered to Speaker Romualdez. My only role was to confirm through text with the Speaker once the money had been brought to his house.)
“Madalas, hindi nabubuo ang hinihinging P2 billion bawat buwan ni Speaker Romualdez kaya ‘yan ang final total,” he added.
(Often, the P2 billion that Speaker Romualdez was asking for each month was not completed, which is why that became the final total.)
Co said that in 2024, while in the process of discussing the 2025 proposed national budget, Department of Justice Undersecretary Jojo Cadiz met them and told them that the President was upset for not receiving any “remittances.”
“At dahil laging napapagalitan si Speaker Martin ng Pangulo mula September hanggang November, inutusan niya ako na mag-deliver ng P1 billion para kay PBBM,” he said.
(And because Speaker Martin was constantly being scolded by the President from September to November, he instructed me to deliver P1 billion for PBBM.)
“Ayon pa kay Usec. Jojo, nang ipaalam niya ito sa Pangulo, ang utos sa kanya ay mag-ingat at siguraduhing si Usec. Jojo lang ang maghahatid,” he added.
(According to Undersecretary Jojo, when he informed the President about this, he was instructed to be careful and to ensure that only he would make the delivery.)
Co said he personally delivered to Cadiz in South Forbes Park P200 million on December 2, 2024, and P800 million on December 5, 2024.
He said Romualdez informed him that Marcos instructed him to buy the house at No. 13 Tamarind Street, South Forbes Park, to serve as storage for money from collections and deliveries.
“Pero kahit na na-deliver na ang P1 billion para kay Pangulong Marcos, at kahit na naisama na rin sa 2025 budget ang P100-billion insertions sa pamamagitan ng Bicam committee ayon mismo sa utos ng Pangulo, nagagalit pa rin daw si BBM,” said Co.
(But even after the P1 billion for President Marcos had been delivered, and even after the P100-billion insertions were included in the 2025 budget through the Bicam committee upon the President’s instruction, BBM was still reportedly angry.) (TPM/SunStar Philippines)
Arrest warrants have been issued against former Ako Bicol Representative Zaldy Co and 17 others in relation to the anomalous flood control projects.
In a video statement, President Ferdinand "Bongbong" Marcos Jr. said the 17 other individuals who were issued with arrest warrants were officials of the Department of Public Works and Highways and Sunwest Corporation, a construction firm co-founded by Co.
“Ang susunod na hakbang ay wala nang paligoy-ligoy pa ang ating mga otoridad ay syempre ipapatupad na nila itong mga arrest warrant na ito aarestuhin na sila ihaharap sa korte at pananagutin sa batas, walang special na pagtrato walang sinasanto,” Marcos said.
(The next step is straightforward: our authorities will, of course, enforce these arrest warrants. They will be arrested, brought to court, and held accountable under the law. There will be no special treatment and no one will be spared.) (TPM/SunStar Philippines)