The Sandiganbayan has ordered the seizure of 16 properties linked to former Ako Bicol Party-list Representative Zaldy Co to secure more than P215 million in allegedly ill-gotten funds stemming from a controversial flood control project.
In a 13-page resolution released Monday, the anti-graft court’s Fifth Division granted the prosecution’s request for a writ of preliminary attachment. The measure ensures that the assets, primarily located in Pasig City, are preserved and can be used to reimburse the government should Co be convicted.
The case involves a P289.5-million road dike project along the Mag-Asawang Tubig River in Oriental Mindoro. Prosecutors allege the project used substandard materials and was marred by “evident bad faith.”
Authorities identified Co as the beneficial owner of Sunwest Inc., the private contractor for the project. The court cited that Co remains a “fugitive from justice” after resigning his seat and failing to surrender to authorities.
“Unless his properties are immediately attached, the state may be unable to satisfy any future judgment as the accused may easily alienate or conceal his remaining assets,” prosecutors argued in their 30 January motion.
The court agreed, ruling that the attachment was necessary because there was “no other sufficient security” for the P215.3-million claim.
Co faces a string of legal challenges across multiple divisions of the Sandiganbayan, including a non-bailable malversation case in the Third Division and separate graft charges in the Fifth and Seventh Divisions.
While his co-accused have pleaded not guilty, the trial for the related malversation case has already begun in the Sixth Division.
The Sandiganbayan stressed that while Co has not yet submitted to the court’s jurisdiction, the attachment of his assets is a valid exercise of the court’s power to protect public funds.