In a major operation targeting alleged customs violations, government authorities have confiscated a fleet of high-end vehicles valued at over P145 million from companies connected to former Ako Bicol party-list representative Elizaldy "Zaldy" Co. The seizure is part of the expanding investigation into anomalous multi-billion peso flood control projects in the country.
Joint Operation Nets Luxury Fleet
The raid was executed on January 9, 2026, at a condominium building in Bonifacio Global City, Taguig. A composite team from the Criminal Investigation and Detection Group (CIDG), Highway Patrol Group (HPG), Bureau of Customs (BOC), Philippine Coast Guard, and Land Transportation Office served a warrant of seizure and detention for breaches of the Customs Modernization and Tariff Act.
The warrant targeted several corporations linked to Co and his family, including:
- 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.
Multi-Million Peso Inventory of Seized Vehicles
The seized luxury vehicles, with an estimated combined worth of P145 million, include:
- A Rolls-Royce registered to Eco Leisure and Hospitality Holding Corp.
- Three Cadillac Escalades under Sunwest Construction, Eco Leisure, and Misibis Resort.
- Two Lexus units and a Mercedes-Benz under Sunwest Construction.
- A Toyota Sequoia and a Lexus Sport Plus under La Venezia Hotel and Spa Inc.
Colonel John Guiagui, chief of CIDG–National Capital Region, stated that due to space constraints at the Bureau of Customs, the vehicles were moved to the Independent Commission on Infrastructure office in Taguig City for temporary safekeeping.
Additional vehicles recovered for validation by the PNP-HPG included a Lexus Hybrid LM350h, Lexus LV 350, GMC Yukon Denali, and a Ferrari. Two more vehicles registered directly to Co—a Toyota Fortuner and a Toyota Sequoia—were also found on the premises.
Ongoing Probe and Wider Controversy
This seizure is directly connected to a larger corruption investigation. Co, along with 15 Department of Public Works and Highways officials and Sunwest Corporation board members, faces an arrest warrant from the Sandiganbayan. The warrant relates to alleged irregularities in a P289 million road dike project in Oriental Mindoro.
Sunwest Corporation, co-founded by Zaldy Co, is reported to be among the top 15 construction firms that secured about 20 percent, or roughly P100 billion, of the country's flood control projects from 2022 to 2025.
Currently, Co remains abroad. He traveled to the United States in July for medical treatment and has declined to return to the Philippines, citing alleged threats to his life following his implication in the flood control controversy.
