In a major operation targeting assets connected to a high-profile corruption investigation, authorities have seized a fleet of luxury vehicles valued at over P145 million. The vehicles are allegedly linked to former Ako Bicol party-list representative Zaldy Co, a central figure in the government's ongoing probe into anomalies surrounding flood control projects.
Multi-Agency Operation at BGC Condominium
The seizure was carried out on January 9, 2026, by a joint task force at a condominium in Bonifacio Global City. The operation was executed to serve a warrant of seizure and detention for violations of the Customs Modernization and Tariff Act.
The collaborative effort involved personnel from the Criminal Investigation and Detection Group (CIDG), the Highway Patrol Group (HPG), the Bureau of Customs (BOC), the Philippine Coast Guard (PCG), and the Land Transportation Office (LTO).
Companies and Vehicles Subject to Warrant
The warrant targeted several corporations connected to Zaldy Co and his family. The companies named in the document are:
- Sunwest Construction and Development Corp.
- Eco Leisure and Hospitality Holding Company Inc.
- Misibis Resort and Hotel Management Inc.
- Jalandoni Alay Flora
- La Venezia Hotel and Spa Inc.
During the raid, the following high-end vehicles, with an estimated total value of P145 million, were confiscated:
- One Rolls-Royce
- One Toyota Sequoia
- Three Cadillac Escalade units
- Two Lexus vehicles
- One Mercedes-Benz
- Several other luxury cars
Implications for the Broader Corruption Probe
This high-value seizure marks a significant escalation in the government's investigation into irregularities in flood control projects. The direct link of these assets to companies associated with Zaldy Co underscores the probe's focus on tracing and securing allegedly ill-gotten wealth.
The operation demonstrates a coordinated approach among law enforcement and regulatory agencies to enforce customs and tax laws. It sends a strong message in the campaign against corruption, particularly in large-scale government infrastructure projects.
Analysts expect this development to add pressure to the wider investigation, as authorities continue to follow the paper trail of finances and assets connected to the controversial flood control initiatives.
