Former Ako Bicol Representative Elizaldy “Zaldy” Co has broken his silence on allegations linking him to anomalous flood-control projects.
In a nearly six-minute “Part 1” video posted on his official Facebook account, Co detailed what he claims really happened, pointing to President Ferdinand Marcos Jr. and former House Speaker Martin Romualdez as the reason he has not returned to the Philippines.
“To every Filipino, I know that you are very angry with me now. I also understand why, especially since it is of great importance,” Co said in Filipino. “But before you judge, let me explain the whole truth. I haven’t spoken in a long time because I have a direct order: Do not return to the Philippines and remain silent.”
Co said he left on 19 July 2025 for a medical check-up and had intended to return after the President’s State of the Nation Address. However, he claimed Romualdez called him and instructed him to stay abroad.
“‘You will be well taken care of as instructed by the President.’ At that time, I still believed in them. That’s why I didn’t return,” he said.
He added that he trusted the promise that he would be protected, not knowing he would later become the “poster boy” of alleged lies involving the two high-ranking officials.
“Now, I will not remain silent. I will reveal the whole truth. There are receipts, there is evidence, and there are names,” Co vowed.
According to him, the controversy began when Budget Secretary Amenah Pangandaman called him at the start of the 2024 bicameral conference. Co, who was then chair of the House Appropriations Committee, said Pangandaman relayed an instruction from the President to insert P100 billion worth of projects into the budget. He added that Undersecretary Adrian Bersamin, who was present at the meeting, could confirm this — a claim Bersamin later affirmed.
Co said he informed Romualdez immediately.
“Right after our conversation, I called former Speaker Romualdez and reported the President’s instructions to insert the P100-billion projects,” he said. “He told me, ‘What the President wants, he gets.’”
In his post, Co also showed an alleged list of the insertions, including P5.4 billion for the Office of the President earmarked for the 2026 ASEAN Summit and meetings.
Co further claimed that during his meeting with Bersamin, he was told that the list came directly from the President and was delivered in a brown leather bag.
“When Usec. Bersamin told me about the brown leather bag, I remembered when we were in Singapore right after the May 2022 elections at the Hilton Hotel."
Co also questioned the size of the Department of Public Works and Highways (DPWH) allocation and asked Romualdez, Pangandaman, Bersamin, and Usec. Cadiz if the insertion could be reduced to P50 billion to prioritize education funding.
“In practice, the DPWH budget cannot be bigger than the education budget. The balance of P50 billion should be placed under unprogrammed funds for 2025, because the Office of the President also releases all unprogrammed funds,” he said.
Despite this, Co claimed his request was rejected. Pangandaman allegedly called him the following day, saying the President insisted on pursuing the full insertion because the Former Speaker had already promised it.
“In other words, the order of the King cannot be changed,” Co said.
He questioned how the President could later claim the budget was unrecognizable when every reduction and addition to agency allocations supposedly passed through him via Pangandaman.
Co ended “Part 1” with teasers for a forthcoming continuation — including a statement expressing hope that he would not be killed before he could reveal the full truth about what happened “behind the curtain.”
