The “Floodgate” scandal involves allegations of corruption, kickbacks and mismanagement in government-funded infrastructure projects worth billions of pesos, primarily under the Department of Public Works and Highways (DPWH).
It has implicated numerous members of Congress, contractors and other officials in schemes where funds were allegedly diverted through “ghost” or substandard projects, with congressional insertions inflating budgets.
Efforts to redirect the narrative away from the real culprits of the massive theft of public funds bring back to Nosy Tarsee the question of why only the small fry have been rounded up while the big fish continue to swim freely.
It is not even hard to pin down key figures like former Senate president Francis “Chiz” Escudero, who held a leadership role in the Bicameral Conference Committee (Bicam) that perverted the 2025 budget, which was considered the most corrupt ever.
Escudero has been accused of receiving P160 million in kickbacks from P800 million worth of projects, delivered via a middleman named Maynard Ngu, who was found to be a major campaign donor.
Additional ties included Escudero’s top 2022 donor being the president of Centerways Construction, a firm linked to anomalous flood control projects which reportedly secured P720 million in deals around the time of a P30-million donation to Escudero’s campaign.
Escudero was ousted as Senate president on 8 September 2025, shortly after his Floodgate connections surfaced during Senate hearings.
Regarding the “obvious” aspects highlighted in the provided financial summary, such as discrepancies in his declared net worth, asset growth, and ambiguous figures that didn’t add up, these aligned with a broader scrutiny of Escudero’s Statement of Assets, Liabilities, and Net Worth (SALN) filings, with the 2025 documents showing him as the poorest of the members of the Senate.
For instance, his net worth showed notable increases in earlier years, from approximately P33 million in 2019 to P34.4 million in 2020, with later declarations including investments (P30.7 million), business interests like Philippine Art Nation (valued at P32.3 million), and properties (P12.9 million), alongside liabilities like P29 million in loans.
However, his most recent SALN as of 31 December 2024 reported a much lower net worth of P18.84 million, consisting mainly of cash, securities, luxury vehicles and no real properties (five were reportedly disposed of), which has been described as “unbelievable,” given his alleged receipt of large contractor donations and potential kickbacks.
The low declaration contrasts sharply with the scandal’s implications of unexplained wealth, including the controversial purchase of a high-value ring that reportedly exceeded his stated assets.
The Office of the Ombudsman, which is responsible for probing financial irregularities among public officials, has been central to the oversight, but critics cite the failure of investigators to pursue charges against high-profile figures.
In February 2026, a Senate panel led by Senator Panfilo Lacson even cleared Escudero, stating that while his name was mentioned in sworn testimony by former DPWH undersecretary Roberto Bernardo, there was “no direct indication that he received the money,” and Escudero was not deemed a “primary actor” in the scheme.
Lacson emphasized that the evidence, including Bernardo’s claim, fell short of the prosecution’s burden, even as charges proceeded against others, such as Senators Jinggoy Estrada and Joel Villanueva.
Escudero has consistently denied all allegations, stating that he has never been charged with corruption in over 27 years of public service, and that he plans to sue his accusers while rejecting the claims as an “attack on the Senate.”