In a stunning revelation that has sent shockwaves through Philippine political circles, former Ako Bicol party-list representative Zaldy Co has detailed an alleged massive money delivery scheme involving nearly P56 billion directed to former House Speaker Martin Romualdez and President Ferdinand "Bongbong" Marcos Jr.
The Explosive Allegations
Through a video statement released on his social media accounts on Monday, November 24, 2025, Co claimed that a staggering total of P55,418,874,054.00 was delivered to Romualdez over a nearly three-year period from September 1, 2022, to August 5, 2025.
The former congressman revealed that immediately after assuming his position as chairman of the House Committee on Appropriations in 2022, Speaker Romualdez allegedly instructed him to deliver P2 billion every month. According to Co's testimony, Romualdez explicitly stated that the funds would be split between himself and President Marcos.
The Delivery Mechanism
Co described how the alleged scheme began following a call from then Department of Public Works and Highways (DPWH) Undersecretary Roberto Bernardo, who sought assistance for Bulacan province's flooding problem. This led to a meeting with DPWH Bulacan First District Engineer Henry Alcantara, who allegedly explained the commission structure for flood control projects.
The breakdown revealed by Co indicates that 22 percent was allocated for Romualdez, 2 percent for Bernardo, and 1 percent for Co himself. This arrangement marked the beginning of what participants referred to as "deliveries."
The coordination for these deliveries allegedly involved Alcantara's staff working with Co's staff members, John Paul Estrada and Mark Ticsay. According to Co, the money would arrive in suitcases and then be transported to Romualdez's residences in the exclusive Forbes Park neighborhood.
Presidential Involvement Claims
In a particularly explosive segment of his testimony, Co claimed that in 2024, Department of Justice Undersecretary Jojo Cadiz approached them during discussions about the 2025 national budget. Cadiz allegedly conveyed that President Marcos was upset about not receiving any "remittances."
Co stated that because Speaker Romualdez was being "constantly scolded" by the President from September to November, he was instructed to deliver P1 billion specifically for President Marcos. The former representative personally delivered P200 million on December 2, 2024, and P800 million on December 5, 2024, to Cadiz in South Forbes Park.
According to Co's account, Romualdez informed him that President Marcos had instructed the purchase of a house at No. 13 Tamarind Street, South Forbes Park, to serve as storage for money from collections and deliveries.
Legal Consequences and Official Response
The allegations emerge amid ongoing legal proceedings against Co and 17 other individuals, including DPWH officials and representatives from Sunwest Corporation, a construction firm co-founded by Co. Arrest warrants have been issued in relation to anomalous flood control projects.
President Marcos has responded firmly to the situation, stating that authorities will enforce arrest warrants without "special treatment" and that all involved will be held accountable under the law. The President emphasized that the next steps involve straightforward implementation of legal procedures.
This developing story represents one of the most significant corruption allegations in recent Philippine political history, with potential implications for the highest levels of government.
