Senator Panfilo "Ping" Lacson on Saturday defended the more than fourfold increase in his declared wealth, saying it came from legitimate private business ventures after he left public office, as his increasingly bitter feud with Senator Alan Peter Cayetano spilled into fresh allegations involving billions of pesos in public funds and supposed ghost flood-control projects.

In a series of posts on X, Lacson rejected Cayetano's claim that the jump in his net worth raised questions about its source, insisting the money came from real estate transactions and other private businesses he pursued after leaving the Senate in 2022.

"Whatever money I have, I definitely earned legitimately through some real estate deals and other legitimate businesses with two other business partners as a private individual," Lacson said, adding that he paid P10.5 million and P2.8 million in taxes as reflected in his income tax returns.

Lacson denied ever profiting from government projects or budget allocations.

"Unlike Sen. Cayetano with P6.79 billion in budget insertions under the 2025 GAA, I have no insertions... and no 25% kickback for slope protection and other infrastructure projects," he added.

Cayetano, in his livestream earlier Saturday, questioned the source of Lacson's increased wealth and renewed his call for a Senate investigation into alleged irregularities in flood-control projects, portraying himself as an advocate against corruption.

Responding, Lacson alleged there were also "ghost" flood-control projects in Taguig City, Cayetano's political stronghold, and claimed the city's engineer — whom he described as a "self-styled BGC boy" — had amassed nearly P500 million in lifetime casino winnings while using two aliases.

He also renewed his accusation that Cayetano benefited from P6.79 billion in budget insertions under the 2025 General Appropriations Act, claiming that 68 of 70 projects had already been implemented.

He contrasted this with his own record, saying he had never sought budget insertions or accepted kickbacks during his years in the Senate.

"Unlike Sen. Cayetano... I have no insertions, a.k.a. pork barrel... and no 25% kickback for slope protection and other infrastructure projects," he said.

As of press time, Cayetano's office had not issued a response to Lacson's latest allegations.