In a revelation that has sent shockwaves through the Philippines, the true extent of the alleged ill-gotten wealth of Congressman Zaldy Co has been laid bare. The numbers are staggering, the assets are luxurious, and the implications for the country’s fight against corruption are monumental. President Ferdinand “Bongbong” Marcos Jr. (PBBM) has announced that the Anti-Money Laundering Council (AMLC) has successfully frozen assets totaling a breathtaking 12 billion pesos. This move is part of an intensifying investigation into high-ranking officials and personalities suspected of deep involvement in corruption, specifically those linked to anomalous government projects.

The breakdown of the frozen assets reads like the inventory of a multinational corporation rather than the holdings of a public servant. According to official reports, the list includes air assets valued at 4 billion pesos alone. This fleet of aircraft represents a level of opulence that stands in stark contrast to the daily struggles of the average Filipino. But the air assets are just the tip of the iceberg. Investigators have also uncovered and frozen a massive web of financial instruments, including 3,566 individual bank accounts. The sheer number of accounts suggests a complex effort to hide or layer funds, a classic red flag in financial investigations.

In addition to the cash and aircraft, the authorities have seized a fleet of 247 motor vehicles and 178 real estate properties. The portfolio also includes 198 insurance policies and 16 e-wallet accounts, painting a picture of a diversified empire built on what the government alleges are the proceeds of corruption. For a man who once claimed to be merely following orders—an “utusan” or messenger—the discovery of such vast wealth has completely shattered his defense. Critics and netizens are now asking: “Who was he really working for, or was he working for himself all along?” The discrepancy between his public salary and his private holdings is simply too large to ignore.

The drama surrounding Zaldy Co took a darker turn with a startling admission from President Marcos. In a bold statement, PBBM revealed that his administration was approached by a lawyer representing Co with a blackmail proposition. The alleged offer was simple but sinister: if the government agreed to cancel the revocation of Co’s passport, thereby allowing him to flee the country, Co would agree to stop releasing “exposé” videos intended to damage the President’s reputation. This attempt to leverage political stability for personal freedom was met with a fierce rebuttal.

“I do not negotiate with criminals,” President Marcos declared, setting a firm line in the sand. This statement resonates as a significant moment in his presidency, signaling a refusal to bow to intimidation tactics. PBBM emphasized that no amount of threatened video releases would stop the wheels of justice from turning. The cancellation of the passport stands, ensuring that Co must face the legal consequences of his actions within the Philippines. The President’s “all-out” approach suggests a willingness to endure personal attacks in exchange for holding corrupt officials accountable, a stance that has garnered support from those weary of political impunity.

The crackdown is not limited to Zaldy Co alone. The investigation has expanded to implicate a wider network of corruption within the government’s infrastructure projects. The Department of Public Works and Highways (DPWH) and the infrastructure cluster investigation team are preparing to submit evidence to the Office of the Ombudsman. This evidence targets eight other congressmen who are allegedly owners of construction companies that have benefited from government contracts. This blatant conflict of interest—lawmakers profiting from the very projects they fund—is a violation of the law and a betrayal of public trust. The government is recommending charges of plunder, anti-graft, bribery, and conflict of interest against these individuals.

The narrative emerging from this scandal is one of a systemic cleanup. For years, rumors of “contractor-politicians” have circulated, but rarely has the government taken such decisive action to freeze assets on this scale. The 12 billion pesos now under government control represents money that should have gone to schools, hospitals, flood control, and roads. Instead, it was allegedly diverted into private jets, luxury cars, and thousands of bank accounts.

As the news spreads, the public reaction has been a mix of outrage and disbelief. The visual of a public official owning billions in air assets while the country faces economic challenges is a powerful symbol of inequality. However, there is also a sense of hope. The freezing of these assets sends a message that no one is too powerful to be touched. The “untouchables” are finally feeling the heat.

For Zaldy Co, the future looks increasingly grim. With his assets frozen, his travel blocked, and serious criminal charges looming, the walls are closing in. The alleged blackmail attempt has only served to harden the government’s resolve. As the investigation continues, the Filipino people are watching closely, waiting to see if this massive wealth will indeed be returned to the national treasury and if justice will finally be served for the billions stolen from the public purse.