COMPANIES being linked to resigned Ako Bicol party-list representative Elizalde “Zaldy” Co tried to deregister three aircrafts, which are being subject to freeze order.
This was revealed on Tuesday, September 30, 2025, by Department of Public Works and Highways (DPWH) Secretary Vince Dizon, who said the deregistration attempt was relayed to the by the Civil Aviation Authority of the Philippines (Caap).
(The Civil Aviation Authority of the Philippines told me that the reason it was deregistered is because they plan to sell it. It cannot be sold, nor can anyone buy it, unless it is deregistered here in the Philippines.)
“Ang maganda napigilan natin ang ‘pag deregister at may standing order na ang Caap na lahat ng air assets na na-identify natin hindi pwedeng i-deregister,” he added.
(The good thing is that we were able to stop the deregistration, and Caap now has a standing order that none of the air assets we identified can be deregistered.)
Last week, Dizon requested the Anti-Money Laundering Council (AMLC) to freeze billions worth of air assets of Co and his brother Christopher amid their implication into the anomalous flood control projects including:
Misibis Aviation & Development Corp:
Two Agusta Westland AW 1398 - $16 million each
Gulfstream 350 - $36 million
2 Bell 407 - $3 million each
Bell 206B3 - $650,000
Hi-Tone Construction Development Corp:
Cessna 414A Chancellor - $700,000
Augusta 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 construction firms that bagged 20 percent, or P100 billion worth of flood control projects from 2022 to 2025.
On Monday, September 29, Co resigned as a member of the House of Representatives, as he maintained innocence from corruption involving anomalous flood control projects. (TPM/SunStar Philippines)