Ako Bicol party-list Representative Zaldy Co has stepped down from Congress, shocking the political scene as he faces mounting corruption allegations linked to flood control projects worth billions of pesos.
On Monday, Co announced his resignation in a letter to Speaker Faustino “Bojie” Dy III, which he later posted on Facebook.
“Because of the grave and imminent threat to my life and my family’s safety, and the denial of my right to due process, I am left with no choice but to tender my immediate, irrevocable resignation,” Co wrote.
Corruption Allegations and ICI Report
Co’s resignation came just as the Independent Commission for Infrastructure (ICI) recommended that the Ombudsman file graft, malversation, and falsification charges against him and several officials of the Department of Public Works and Highways (DPWH) in Oriental Mindoro.
The case is tied to the ₱289.5-million road dike project along the Mag-Asawang Tubig River in Naujan. The project was carried out by contractor Sunwest Inc., a company allegedly linked to Co.
ICI executive director Brian Hosaka identified several DPWH officials also facing possible charges, including Regional Director Gerald Pacanan, Assistant Regional Directors Gene Ryan Altea, Ruben Santos Jr., and ten others.
Transition in Ako Bicol
In his resignation letter, Co said Ako Bicol Party-list would soon name a replacement. He promised a smooth handover:
“I will make the necessary arrangements for my office to be cleared so that my substitute nominee may transition seamlessly.”
In a separate letter to his party, Co also announced he was taking a leave of absence, saying he would return only when it was safe to do so.
‘Our Family Is in Grave Danger’
The embattled congressman broke down his situation with visible emotion.
“The accusations have conditioned the public to hate and condemn me and my family. Now our lives are under threat. All I can say is that these allegations are false. For now, I must remain silent to protect my loved ones,” Co said.
The Philippine National Police confirmed Monday morning that his five security escorts were recalled after Co left the country.
Billions in Assets Frozen
The controversy deepened after the DPWH asked the Anti-Money Laundering Council (AMLC) to freeze Co and his family’s assets — including ₱4.3 billion worth of aircraft — believed to have been acquired through illicit means tied to flood projects.
Dismissed DPWH engineers Henry Alcantara and Brice Hernandez testified that Co allegedly received huge kickbacks, including a ₱1-billion cash delivery stuffed into suitcases.
Alcantara detailed that between 2022 and 2025, Co was linked to ₱24 to ₱35 billion worth of projects in Bulacan alone. Alleged kickbacks reportedly rose from 20% in 2022 to 25% in later years.
What’s Next?
While Co insists he never pocketed public funds and vows to clear his name someday, he admitted he could not fight the allegations head-on while his family’s safety hangs in the balance.
“I will speak in due time,” Co promised. “But for now, I must protect my family.”
