AMLC: Zaldy Co got P802-M deposits from Sunwest in malversation case

In the ongoing malversation case against former lawmaker Zaldy Co over anomalous flood control contracts involving Sunwest Incorporated, the prosecution wrapped up its presentation on April 7, 2026, at the Sandiganbayan with Anti-Money Laundering Council (AMLC) testimony revealing P802 million in bank deposits to Co from Sunwest—evidence tying him as its beneficial owner.

The testimony before the Sandiganbayan anti-graft court in Manila bolsters prosecutors' claims of Co's role in the disputed contracts, which previously led to arrest warrants for him and 17 others in November 2025 over a P289.5-million project in Oriental Mindoro.

Rappler's Jairo Bolledo reported from the court. Co's camp has not immediately responded to this development.

This is part of ongoing coverage of the Zaldy Co-Sunwest flood control case.

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Courtroom scene illustrating Sandiganbayan's arrest warrant for Zaldy Co over corrupt flood project in Oriental Mindoro.
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The Sandiganbayan has issued an arrest warrant and hold departure order against former lawmaker Zaldy Co and 17 others over an anomalous flood control project in Oriental Mindoro. President Ferdinand Marcos Jr. ordered authorities to enforce it immediately with no special treatment. Co, who left the Philippines in August, is willing to return under house arrest or bail due to safety fears.

The Sandiganbayan has upheld its denial of bail for nine co-accused of fugitive lawmaker Zaldy Co in the Oriental Mindoro flood control malversation case, rejecting their motion for reconsideration in a 27-page resolution.

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The Department of Justice has included a plunder complaint against fugitive former lawmaker Zaldy Co in its preliminary investigation into corruption allegations tied to flood control projects in Bulacan. DOJ spokesperson Polo Martinez stated that no counsel appeared for Co, giving him until January 15 to submit a counter-affidavit. The probe also covers former Senator Bong Revilla and Senator Joel Villanueva, both denying involvement in the anomalous projects.

President Ferdinand Marcos Jr. ordered the Department of Public Works and Highways and the Independent Commission for Infrastructure to hand over all evidence from their probe into anomalous flood control projects to the Ombudsman. This accompanies the agencies' recommendation to file plunder, graft, and bribery charges against former House Speaker Martin Romualdez and former congressman Zaldy Co. The Ombudsman's decision will be based on evidence from contracts and testimonies.

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Authorities seized eight luxury vehicles linked to former Rep. Elizaldy Co from a condominium parking area in Bonifacio Global City, Taguig, on Thursday night, January 8. The action followed a court-issued search warrant due to missing import documentation and unpaid duties, as flagged by the Bureau of Customs. The vehicles, including a Rolls Royce and Escalade, were registered under companies and individuals connected to Co.

The Department of Justice announced that three flood control cases against SYMS Construction Trading and former DPWH officials have been transferred to Quezon City Regional Trial Court branches. DOJ spokesperson Polo Martinez said the cases were originally filed in Bulacan courts in January and February. Pre-trial hearings are set for April.

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Following the January 8 seizure of eight luxury vehicles from a Bonifacio Global City condominium, the Independent Commission for Infrastructure (ICI) and Bureau of Customs (BOC) denied claims of forcibly taking keys to 34 cars linked to former Rep. Elizaldy 'Zaldy' Co. Officials emphasized that all actions followed legal procedures amid probes into flood control project irregularities.

 

 

 

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