“P25 Billion Kickback?” Zaldy Co’s Explosive Claim Against Marcos Shocks Public
ZALDY CO – A new wave of political tension hit the nation as former Ako Bicol representative Zaldy Co claimed that Marcos personally received a quarter of the alleged P100-billion budget insertion.
Former Ako Bicol representative Zaldy Co has escalated his accusations against President Ferdinand Marcos Jr., alleging that the chief executive received P25 billion in kickbacks from supposed insertions in the proposed 2025 national budget. Co claimed on Saturday, November 15, through the second installment of a video series he began releasing a day earlier, detailing what he describes as P100 billion in budget irregularities.
The former lawmaker, who is currently abroad, said Malacañang’s denial of his allegations only strengthens his resolve to speak out. The Palace had earlier urged Co to return to the Philippines and testify under oath if he intends to pursue his claims.
In the latest video, Co recounted how he allegedly asked the Department of Public Works and Highways (DPWH) about the expected “SOP” or standard operating procedure amount tied to the alleged P100-billion budget insertion. He said he was told, “25%,” referring to the cut supposedly meant for the Office of the President. According to Co, “Ang ibig sabihin nito, 25% ng P100 billion ang SOP na kailangan ibigay kay BBM mismo. In total, P25 billion ang napunta kay Pangulong Bongbong Marcos.”
To support his claims, Co presented photos of luggage placed beside luxury vehicles, allegedly taken inside his garage on various dates. He said these items represented deliveries supposedly intended for President Marcos and former House speaker Martin Romualdez. One photo purportedly showed 37 pieces of luggage amounting to P1 billion. Delivery dates ranged from January 8, 2024, to March 11, 2025.
Co further alleged that the deliveries were brought to residences in North Forbes Park and South Forbes Park, and even to Malacañang, echoing earlier accounts by his former security aide, Orly Guteza. He insisted that none of the money went to him, saying, “Wala pong perang napunta sa akin.”
President Marcos, however, dismissed the accusations outright on Saturday, saying he does not “want to even dignify what [Co] is saying.” He added, “If you want to talk about the storm, we’ll talk about that. I don’t want to even dignify what he is saying.”