Former Ako Bicol party-list representative Zaldy Co has accused the Marcos administration of attempting to brand him as a “terrorist” both in the Philippines and abroad, which is an effort he claims is meant to 'silence him and bury the truth.'
In a video released on Monday, Co presents what he describes as a more detailed narrative of the alleged multimillion-peso cash “deliveries” purportedly involving President Ferdinand “Bongbong” Marcos Jr. and former House Speaker Martin Romualdez.
The former lawmaker, who has recently been issuing statements from an undisclosed location, claimed he cannot return to the Philippines due to what he described as serious threats to his life.
“Hindi ako makauwi dahil malaki ang banta sa buhay ko,” Co said.
“Ngayon naman ay mayroon kaming natanggap na balita. Papalabasin ng administrasyon na ako ay isang terorista sa loob at labas ng Pilipinas para mailibing ako kasama ang katotohanan kahit saan man ako pumunta,” he added.
Responding to earlier allegations that he had received P21 billion from the 2025 national budget, Co insisted the figure was false. According to him, a total of P56 billion in funds allegedly passed through him from 2022 to 2025, supposedly intended for Marcos and Romualdez.
He further claimed the amount was separate from what he described as a P100-billion budget insertion attributed to the President for 2025, as well as a P97-billion flood-control insertion he alleged was planted in the 2026 National Expenditure Program.
"Ang totoo, mula 2022 hanggang 2025, ang kabuuang pera na dumaan sa akin para ibigay kay Pangulong Bongbong Marcos at kay dating Speaker Martin Romualdez ay umabot sa 56 bilyong pesos at hiwalay pa dyan ang 100 bilyong pesos insertion ng Pangulo sa 2025 budget. Pati na rin ang 97 bilyong pesos flood control insertion na inilagay sa NEP ng 2026 national budget," he said.
Co said Romualdez allegedly instructed him to deliver P2 billion monthly from Department of Public Works and Highways (DPWH) projects.
“Noong 2022, kakaupo ko pa lang bilang chairman ng House Committee on Appropriations, sinabi na agad sa akin ni Speaker Romualdez na kailangan ko makapag-deliver ng 2 bilyong pesos kada buwan," he added.
Co narrated that in 2022, shortly after he became chair of the House Committee on Appropriations, Romualdez allegedly instructed him to “deliver” P2 billion per month. He claimed that Alcantara later offered a supposed arrangement involving percentages from DPWH projects—22% for Romualdez, 2% for former DPWH Usec. Roberto Bernardo, and 1% for Alcantara.
Co asserted that his role was limited to confirming via text message that money had been delivered to Romualdez’s residence, saying his staff handled coordination with individuals allegedly linked to former DPWH Bulacan district engineer Henry Alcantara.
"Ako lang po ang nagco-confirm sa text kay speaker kapag nadala na ang pera sa bahay niya," he said.
Co alleged that funds were turned over by Alcantara’s group to his aides, who then coordinated with Romualdez’s staff for delivery to residences in North Forbes Park and later South Forbes Park.
He claimed the total amount delivered to Romualdez between 2022 and 2025 was “more than P55 billion.”
"Ang sinabi mismo ni Speaker Martin sa akin na hati sila ni Pangulong Marcos sa perang iyon," he noted.
Co further alleged that in late 2024, he was instructed to deliver P1 billion directly for Marcos after a series of supposed complaints that the President had "not been receiving remittances."
He claimed the drop-off point was a house in South Forbes Park allegedly purchased to serve as a storage site for money intended for the President.
Co said he personally delivered P200 million on December 2, 2024, and another P800 million on December 5, 2024, to what he described as a designated location handled by Undersecretary Jojo Cadiz.
Departent of Interior and Local Government (DILG) Secretary Jonvic Remulla confirmed earlier that an Interpol Blue Notice had been issued to assist in locating Co, who has left the country amid the ongoing controversy.
