DPWH seeks freeze of Co’s air assets worth billions
THE Department of Public Works and Highways (DPWH) has asked the Anti-Money Laundering Council (AMLC) to freeze billions of pesos worth of air assets owned by Ako Bicol party-list Representative Elizaldy “Zaldy” Co and his brother, Christopher Co, in connection with alleged anomalies in flood control projects.
In a press conference Wednesday, September 24, 2025, Public Works Secretary Vince Dizon said the Civil Aviation Authority of the Philippines submitted to him a list of aircraft registered to firms owned by the Co brothers:
Misibis Aviation & Development Corp.:
Two AgustaWestland AW 1398 helicopters, $16 million each
Gulfstream 350, $36 million
Two Bell 407 helicopters, $3 million each
Bell 206B3, $650,000
Hi-Tone Construction Development Corp.:
Cessna 414A Chancellor, $700,000
Agusta A109E, $6.9 million
PA 31-350 Chieftain, $340,000
QM Builders:
Bell 505, $2 million
Hi-Tone Construction & Development Corp. and QM Builders were among the top 15 firms that cornered 20 percent, or about P100 billion, worth of flood control projects from 2022 to 2025.
Dizon said the DPWH has submitted the list to the AMLC for possible freezing.
The agency also sought the freezing of 26 luxury vehicles owned by several individuals linked to the alleged anomalies, worth a total of P474,483,120.
Among them were nearly P300 million worth of vehicles belonging to spouses Sarah and Curlee Discaya; more than P35.3 million owned by dismissed Bulacan 1st Assistant District Engineer Brice Hernandez; and P18.5 million owned by dismissed Bulacan 1st Assistant District Engineer Jaypee Mendoza.
The Bureau of Customs taken into custody almost 30 luxury vehicles of the Discaya couple.
Hernandez had surrendered to the Independent Commission on Infrastructure a GMC Denali worth P12 million and is set to turn over a Lamborghini valued between P30 million and P40 million.
Also covered by the DPWH request were vehicles owned by contractors tagged in ghost projects in Bulacan—Mark Allan Arevalo of Wawao Builders, worth P16.6 million, and Sally Santos of Syms Construction, worth more than P30 million.
Dizon said the request for asset freezing aims to prevent the owners from putting the vehicles on sale.
He said they will also provide the ICI a copy of the list.
“Hindi kami titigil hanggang hindi nababawi ang pera ng taumbayan (We will not stop until the people's money has been recovered),” Dizon said.
“Sabi ng Pangulo, bawiin ang pera ng taumbayan at kasama na po ito (The President has ordered us to recover the people’s money, and this is part of that effort),” Dizon added. (TPM/SunStar Philippines)