PRESIDENT Ferdinand "Bongbong" Marcos Jr. on Wednesday, November 26, 2025, said the camp of embattled former Ako Bicol Party-List representative Zaldy Co attempted to blackmail the government to prevent the cancellation of his passport.
In a video statement, Marcos said that Co’s lawyer attempted to blackmail him, asking him to prevent the passport cancellation so that Co would no longer post his video exposés on social media.
“I do not negotiate with criminals,” Marcos said.
"Kahit maglabas ka na ng video ng lahat ng kasinungalingan mo, pag-destablilize mo sa gobyerno, gusto kong malaman mo, Zaldy, makakansela pa rin ang passport mo. Hindi ka na makakatakas sa hustisya," Marcos said.
(Even if you release a video full of your lies and attempts to destabilize the government, I want you to know, Zaldy, your passport will still be canceled. You will no longer escape justice.)
Co is facing a warrant of arrest issued by the Sandiganbayan alongside 15 officials of the Department of Public Works and Highways (DPWH) and Sunwest Corporation, all indicted by the Ombudsman for graft and malversation of public funds over a P289.5-million flood control project in Oriental Mindoro.
Arrest warrants have since been issued against former Co and 17 others in relation to the anomalous flood control projects.
Co earlier released a series of videos in which he alleged that about P100 billion worth of budget “insertions” were approved for flood‑control and other projects, and that these insertions involved the administration of Marcos and former House Speaker Martin Romualdez.
He also claimed his company and associates “delivered” suitcases of cash to residences linked with those high‑ranking officials, as evidence of alleged kickbacks.
Co said that he has documentation of all transactions and that those “insertions” were part of what he described as systematic graft tied to flood‑control and infrastructure funding.
P12B assets frozen
Marcos said the Anti-Money Laundering Council has frozen a total of P12 billion in assets, including P4 billion in air assets belonging to Co.
The freeze also covers 3,566 bank accounts, 198 insurance policies, 247 vehicles, 178 real properties, and 16 e-wallets.
Marcos said the Inter-Agency Council on Infrastructure and the DPWH will submit evidence to the Ombudsman for possible plunder, anti-graft, bribery, and conflict-of-interest charges against eight congressmen who own construction companies involved in questionable projects. (JGS/SunStar Philippines)