NBI finds possible links showing Zaldy Co still tied to Sunwest Construction

The National Bureau of Investigation’s early findings suggest that former congressman Zaldy Co may still be a beneficial owner of Sunwest Construction, despite his repeated claims that he had divested from the company.

This was according to NBI Officer in Charge Angelito Magno, who said agents—acting on an inspection order issued by the Makati Regional Trial Court—searched two condominium units owned by Co at Horizon Tower in Bonifacio Global City, Taguig, on Tuesday, 2 December.

The operation aimed to recover documents related to alleged bid-rigging and irregularities in flood control projects.

Magno said the inspection order authorizes investigators to enter and examine the units for records connected to bid-rigging violations.

“Early findings provide bases to believe that Co may still be a beneficial owner of Sunwest, contrary to his claims of divestment,” Magno said.

The NBI chief confirmed that documents were recovered but declined to reveal specifics, citing the confidentiality of the inspection order. He noted that the search is ongoing and that no cash, jewelry, or other high-value items were found.

The bureau is now cross-referencing the recovered documents with testimonies previously presented to the Senate, including statements from former employees allegedly involved in Sunwest transactions.

Initial NBI checks indicate possible corroboration between the documents and prior statements about Co’s continued involvement in the company.

Magno added that a city hotel allegedly used as a safe house for Sunwest executives was also inspected by NBI and Philippine National Police teams, but the operation yielded no evidence.

Investigations continue into other individuals linked to the flood control projects, with cases already filed at the Department of Justice and assets—including luxury vehicles and bank accounts—frozen.

Earlier, Co’s Philippine passport had been canceled, and authorities are coordinating with the Bureau of Immigration to trace his recent travels abroad.

Officials are likewise examining the possibility that Co may possess another passport, noting that a golden visa does not constitute proof of citizenship.

The NBI is part of a technical working group formed by the Independent Commission on Infrastructure to pursue asset forfeiture against individuals involved in the flood control projects.

Magno said further charges and potential arrest warrants could be expected once preliminary investigations are completed.

He added that once the cases reach the courts, warrants of arrest will follow.