An investigation is underway into allegations that billions of pesos in bribe money linked to flood control projects were delivered in suitcases, allegedly upon the instruction of former AKO Bicol Party-list Rep. Zaldy Co, as reported by RH Raymund Dadpaas.

The claims are currently undergoing validation, according to Sen. Panfilo Lacson, chairman of the Senate Blue Ribbon Committee. Lacson emphasized the need to determine whether the allegations have sufficient basis before the Senate proceeds with a formal inquiry.

The allegations stem from the testimony of 18 individuals who identified themselves as former members of the Philippine Marines. The group was presented during a news conference by lawyer Levito Baligod.

The witnesses claimed that from 2023 to 2025, they distributed a total of ₱805 billion in cash allegedly sourced from kickbacks tied to flood control projects. They said the supposed distributions were carried out under the orders of Co.

Furthermore, the matter has been referred to the Senate Blue Ribbon Committee through Senate Resolution No. 317 filed by Sen. Imee Marcos, seeking a formal investigation into the alleged anomaly.

Lacson said that serious accusations must be carefully examined, including the origin of the claims and the credibility of the witnesses. He added that if the testimonies of the individuals claiming to be former Marines pass the validation process, they may be summoned to appear at a Senate hearing.

Co has been linked to the alleged irregularities in flood control projects and is believed to be in Europe following reports naming him as a key figure in the purported anomaly.

The Senate Blue Ribbon Committee has yet to announce the schedule for possible hearings pending the outcome of the validation process.