Former congressman Zaldy Co, former chairman of the appropriations committee, is being investigated after a report by the Independent Commission for Infrastructure (ICI) revealed that suitcases full of money were allegedly brought to his house in Pasig. According to the report, the house was only used as a money stash.
Based on the testimony of former DPWH engineers Henry Alcantara and Brice Hernandez, they said there were nearly 426 flood control projects from 2022 to 2025 worth ₱35.024 billion. Alcantara stated that Co allegedly demanded a 25% kickback from the value of each contract.
According to the report, ₱50 million fits in a large suitcase, while the smaller one has ₱30 million to ₱40 million. Each delivery, there are five to six suitcases full of money transported using seven or more vehicles. The money was allegedly sent to the parking area of a hotel in Taguig and to Co's house in Valle Verde 6, Pasig City.
Hernandez said that from 2022 to 2024, they delivered cash eighteen times. In the first quarter of 2025, he discovered that Co's house was empty of anything but a suitcase full of money.
According to the ICI, Co could be charged with Direct or Indirect Bribery, Corruption of Public Officials, and Plunder due to this alleged kickback scheme.
