Inside the P100-B Budget Scandal: Zaldy Co Says Marcos Took a Massive Cut
ZALDY CO – Former Ako Bicol representative Zaldy Co’s latest video has ignited a firestorm of questions after he claimed that a massive P25 billion ended up in the hands of President Marcos.
Zaldy Co has intensified his allegations against President Ferdinand Marcos Jr., claiming that the President received P25 billion in kickbacks connected to alleged insertions in the 2025 national budget. Co released this accusation on Saturday, November 15, in the second part of a video series he began publishing the previous day, where he outlines what he calls P100 billion in questionable budget allocations.
Currently outside the country, Co said that Malacañang’s dismissal of his claims has only motivated him further to reveal what he knows. The Palace earlier challenged him to return to the Philippines and formally swear to the allegations if he intends to move forward.
In his newest video, Co narrated that he consulted with the Department of Public Works and Highways (DPWH) about the supposed “SOP” linked to the P100-billion insertion. According to him, he was told the cut was “25%,” which he said was intended for the Office of the President. As Co stated, “Ang ibig sabihin nito, 25% ng P100 billion ang SOP na kailangan ibigay kay BBM mismo. In total, P25 billion ang napunta kay Pangulong Bongbong Marcos.”
To bolster his accusations, Co displayed images showing numerous luggage pieces placed beside high-end vehicles, which he claimed were taken in his garage across different dates. He alleged these luggage deliveries were meant for President Marcos and former House speaker Martin Romualdez. One photo supposedly included 37 bags that he said were worth P1 billion. The deliveries were dated from January 8, 2024, to March 11, 2025.
Co also asserted that the drop-offs were made at homes in North Forbes Park, South Forbes Park, and at Malacañang, aligning with earlier statements from his former security aide, Orly Guteza. He maintained that he did not personally receive any portion of the funds, saying, “Wala pong perang napunta sa akin.”
President Marcos, meanwhile, dismissed the allegations on Saturday, stating he does not “want to even dignify what [Co] is saying.” He further remarked, “If you want to talk about the storm, we’ll talk about that. I don’t want to even dignify what he is saying.”
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