In a political development that has stunned the nation, the seemingly untouchable facade of Congressman Zaldy Co has shattered. Known for his powerful position as the Chairman of the House Appropriations Committee, Co is now the central figure in what authorities are calling one of the most significant asset seizures in recent history. The Anti-Money Laundering Council (AMLC), acting on strong evidence of financial anomalies, has successfully obtained freeze orders on assets totaling a jaw-dropping 12 billion pesos. This move signals a decisive shift in the administration’s campaign against corruption, targeting high-ranking officials who have long operated in the shadows.

The scale of the assets discovered is difficult for the average citizen to comprehend. According to official reports, the frozen wealth includes not just bank deposits but a vast empire of tangible properties. Authorities have identified and secured over 3,566 individual bank accounts linked to the congressman and his associates. In addition to cash, the inventory of seized items reads like the wish list of a billionaire tycoon: 247 motor vehicles, 178 real estate properties, 198 insurance policies, and perhaps most shockingly, air assets valued at 4 billion pesos. These luxury aircraft, symbols of immense wealth, stand in stark contrast to Co’s public denials of corruption and kickbacks.

For years, Zaldy Co has maintained a narrative of innocence, asserting that his wealth was legitimate and that he never engaged in corrupt practices. However, the sheer volume of these assets paints a damning picture. Political observers and investigators argue that such an accumulation of wealth is mathematically impossible for a public servant without illicit sources of income. The investigation suggests that these funds may have been siphoned from government projects, particularly those related to flood control and infrastructure, which have been plagued by allegations of sub-standard implementation and ghost projects.

The drama escalated further with a revelation from President Ferdinand “Bongbong” Marcos Jr. himself. In a statement that silenced the room, the President disclosed an alleged attempt by Zaldy Co’s camp to blackmail the government. According to PBBM, a lawyer representing Co approached the administration with a proposal: if the government agreed to cancel the revocation of Co’s passport—thereby allowing him to leave the country—the congressman would agree to stop releasing “exposé” videos intended to destabilize the administration.

The President’s response to this alleged extortion was swift and uncompromising: “I do not negotiate with criminals.” This firm stance has been applauded by supporters who view it as proof of the administration’s resolve to clean up the government, regardless of political alliances. PBBM emphasized that the cancellation of the passport would stand and that the congressman must face the justice system within the Philippines. The threat of releasing damaging videos, whether real or fabricated using AI, was dismissed as the desperate act of someone whose escape routes have been cut off.

The crackdown does not stop with Zaldy Co. The investigation has widened to include eight other congressmen who are allegedly owners of construction companies that have been awarded massive contracts by the Department of Public Works and Highways (DPWH). This represents a clear conflict of interest, a violation of the law that prohibits legislators from financially benefiting from the very projects they allocate funds for. The Ombudsman is reportedly preparing to file cases of plunder, graft, bribery, and conflict of interest against these individuals. This suggests a systemic cleanup operation, aiming to dismantle the network of “contractor-politicians” who have turned public service into a lucrative business.

The phrase “The money of the people will be given back to the people” has become the rallying cry of this operation. With 16 e-wallets also frozen and scrutiny intensifying on every financial move, the message is clear: the era of impunity is ending. For Zaldy Co, the freeze order is likely just the beginning. As the evidence mounts and the legal cases are prepared, the man who once held the purse strings of the national budget now finds his own accounts locked, his travel blocked, and his legacy in ruins. The public now waits to see if this momentum will continue and if these frozen billions will indeed find their way back to the national treasury to serve the people they were intended for.