PRESIDENT Ferdinand Marcos Jr. on Wednesday said he rejected a blackmail attempt by the camp of resigned Ako Bicol party-list Rep. Zaldy Co, saying he will not bow to pressure as the government pursues those responsible the multibillion-peso flood control scam.
Meanwhile, a lawyer for resigned Co denied charges that the Marcos administration was being coerced into dropping its bid to cancel the passport of his client.
In a related development, Senator Risa Hontiveros urged Co to return to the Philippines and participate in formal proceedings as allegations of large-scale budget insertions continue to fuel political controversies.
“I do not negotiate with criminals,” Marcos said in a video statement. He said Co’s lawyer approached the government and warned that his client would release videos unless authorities halted efforts to cancel his passport.
“Even if you release a video full of your lies meant to destabilize the government, I want you to know, Zaldy, your passport will still be canceled. You will no longer escape justice,” the President warned.
Marcos said the blackmail bid was a consequence of his administration’s determination to push its investigation into the kickbacks, which has already led to several arrests and large-scale asset freezes.
He also announced that the Anti-Money Laundering Council has obtained two new freeze orders covering assets linked to the scandal, raising the total amount to about P12 billion.
The frozen assets included airplanes identified with Co valued at some P4 billion, along with 3,566 bank accounts, 198 insurance policies, 247 vehicles, 178 real properties, 16 e-wallet accounts, and additional aviation assets.
“This is only the beginning,” Marcos said, adding that more assets are expected to be frozen and eventually returned to public coffers.
He also said the Independent Commission for Infrastructure and the Department of Public Works and Highways (DPWH) will submit evidence to the Office of the Ombudsman and recommend plunder, graft, bribery, and conflict-of-interest charges against eight lawmakers from the House of Representatives, who allegedly own construction companies with DPWH projects.
Lawyer Ruy Rondain in a statement said he has “not spoken with anyone from the government to negotiate the stoppage of the videos in exchange for the passport.”
“As I have always maintained, I have no control over the release of the videos,” he said.
Marcos said the offer was made in exchange for Co to post his video exposès implicating the President, the First Family and several other government officials into the flood control mess.
The Palace on Wednesday cast doubt on the credibility of Co’s online accusations, including his claim that House Majority Leader Sandro Marcos inserted P50 billion into the national budget, saying the videos he released were riddled with inconsistencies and shifting narratives.
Presidential Communications Office Undersecretary Claire Castro noted that the younger Marcos had already denied the allegation, calling it “a lie,” and said the administration preferred to wait for Co to finish releasing all his statements before issuing a full response.
“Before we give any reaction, it’s best that he—if he is indeed the one speaking—finish all his so-called accounts,” Castro said during a press briefing.
“From video one, two, three, up to video four and five, his hairstyle keeps changing, and with it the inconsistencies in his story. Every time people point them out, he changes his narrative,” she added.
Castro said the inconsistencies were significant enough to raise doubts about the authenticity and timing of the videos.
“With the way his appearance shifts from one video to the next, it is hard to dismiss the question of whether it is truly him, and whether these were recorded in one sitting,” she said.
“If these were done in a single day, his appearance wouldn’t change. It suggests these were shot on different days, likely adjusting based on public reaction,” Castro added.
Castro also pointed to Co’s shifting timeline of events.
“He never mentioned in videos one or two the alleged 2022 transaction,” she said.
“He first claimed his supposed discussions with Secretary Amenah Pangandaman began in 2024. When experts and lawyers noted the inconsistencies, the story in his later videos changed,” Castro added.
She said the Palace cannot ignore the issue, especially as Co’s allegations have become part of the national conversation.
She added that President Ferdinand Marcos Jr. prefers that Co return to the Philippines to air his claims directly.
Hontiveros said the Senate Blue Ribbon Committee’s inquiry remains active and stressed that Co must face investigators if he intends to substantiate his claims against top government officials.
“If he is saying anything true, if he has any evidence, he should present these to the authorities here so that the proper cases can be filed,” said Hontiveros.
For her, testimony released only through social media carries no formal weight and must be accompanied by proper legal steps, including an affidavit or apostilled submission through Philippine representatives abroad.
She added that she cannot personally assess Co’s credibility until he appears before the Senate Blue Ribbon Committee, which she described as the chamber’s primary venue for determining the truth or falsehood of his allegations.
