Jamaine Punzalan

Representative Elizaldy Co chairs the House Committee on Appropriations briefing, September 6, 2022 on the P194.62-billion budget proposal of the Department of Social Welfare and Development (DSWD) for Fiscal Year 2023. Press and Public Affairs Bureau handout

Article (news)

CONGRESS-DSWD

Andrea Taguines

ABS-CBN News

<div><iframe width="853" height="480" src="https://www.youtube.com/embed/qBHtwSNRRYE" title="LIVE: DPWH holds press briefing | September 24, 2025" frameBorder="0" allowfullscreen=""></iframe></div><p>MANILA — Department of Public Works and Highways (DPWH) Secretary Vince Dizon on Wednesday asked the Anti-Money Laundering Council (AMLC) to freeze more than P4.7 billion in air assets owned by Ako Bicol party-list Rep. Elizaldy Co via companies linked to the lawmaker.</p><p>Based on records the DPWH received from the Civil Aviation Authority of the Philippines (CAAP), Misibis Aviation &amp; Development Corp has an estimated $74.650 million worth of aircraft, while Hi-Tone Construction Development Corp has $7.940 million.</p><p>“We have information on assets either directly or indirectly through various companies connected to Congressman Zaldy Co. We are submitting this list to the DOJ, AMLC and ICI (Independent Commission for Infrastructure) and we will leave it up to those three agencies and institutions to act accordingly,” he added.</p><p>Dizon earlier said <a href="https://www.abs-cbn.com/news/nation/2025/9/21/dizon-tags-zaldy-co-sunwest-inc-in-substandard-flood-projects-in-oriental-mindoro-1228">Co-linked Sunwest Inc. was behind five of seven substandard flood control projects </a>in Oriental Mindoro. Based on the data obtained from the Securities and Exchange Commission, Co is among the incorporators of Sunwest Inc.</p><p>Hi-Tone Construction is also included in the top 15 flood control contractors flagged by Malacañang. According to SEC records, Hi-Tone’s incorporators included a certain Christopher S. Co.</p><p>“Wala akong ideya sa net worth ni Congressman Zaldy Co. But very clear lang, sabi ng NBI (National Bureau of Investigation) at ng DOJ (Department of Justice) kahapon, freeze all assets,” said Dizon.</p><p>Dizon said this was still in line with the Marcos administration’s goal to not just prosecute those allegedly behind anomalous flood control projects in the country but to also recover the money they stole.</p><p>Co, who used to be the Chairman of the House Committee on Appropriations, has been accused of proposing billions of pesos in insertions in the 2025 national budget that funded some allegedly anomalous flood control and other infrastructure projects.</p><p>He has denied the allegations.</p><p>Meanwhile, QM Builders, which is another firm included in the Top 15 flood control contractors nationwide, has $2 million dollars in air assets that Dizon also wants to have frozen and eventually recovered.</p><div><a href="https://www.abs-cbn.com/news/nation/2025/9/23/nbi-recommends-charges-vs-villanueva-estrada-co-over-alcantara-s-kickback-claims-1555">NBI recommends charges vs Villanueva, Estrada, Co over Alcantara’s kickback claims</a><a href="https://www.abs-cbn.com/news/nation/2025/9/23/zaldy-co-says-p35-b-insertion-kickback-allegations-against-him-false-baseless-1710"></a><br/><a href="https://www.abs-cbn.com/news/nation/2025/9/23/zaldy-co-says-p35-b-insertion-kickback-allegations-against-him-false-baseless-1710">Zaldy Co says P35-B insertion, kickback allegations against him &#x27;false, baseless&#x27;</a></div><div><br/></div><div><strong>MOTOR VEHICLE ASSETS</strong></div><div><br/></div><p>Dizon also sought a freeze order on nearly P500 million worth of vehicles registered under several DPWH officials and contractors linked to the flood control corruption scandal.</p><p>These are individuals which have already been sued before the Office of the Ombudsman for their supposed role in ghost and substandard flood control projects in Bulacan province.</p><p>In total, the initial list from LTO is valued at more than P474 million.</p><p>Of that figure, over P270 million is owned by contractor couple Sarah and Pacifico “Curlee” Discaya.</p><p>Former Bulacan District Engineer Henry Alcantara has P670,000 worth of vehicles under his name. But Dizon is not discounting the fact that these people still have more so he said investigations will continue.</p><p>“Hindi pa natin alam, baka naman meron dito ay meron silang mga kaibigan o pamilya, pinapahanap na rin po natin. So this is just an initial list,” he said.</p><p>“Sabi po ng pangulo, bawiin lahat ng pera ng kababayan. Kasama na ito doon,” added Dizon.</p><p>He also warned the public against transacting with these individuals should they try to sell off their cars.</p><p>“Ibig sabihin nito, hindi pwedeng ibenta. At kung merong mga kababayan tayo na nakikipag-transaksyon dito at gustong bumili ng mga sasakyan sa mga taong ito, mag-dalawang isip na po kayo kasi pati po kayo madadamay dito pag binili niyo ang mga assets na ito,” he said.</p><div><br/></div><div><br style="caret-color:rgb(0, 0, 0);color:rgb(0, 0, 0)"/></div>

<p>Public Works Secretary Vince Dizon on Tuesday asked the Anti-Money Laundering Council to freeze almost P5 billion worth of air assets owned by Ako Bicol party-list Rep. Elizaldy Co and companies linked to the lawmaker.</p>

Public Works Secretary Vince Dizon on Tuesday asked the Anti-Money Laundering Council to freeze almost P5 billion worth of air assets owned by Ako Bicol party-list Rep. Elizaldy Co and companies linked to the lawmaker.

Dizon seeks freeze order on Co’s nearly P5-billion air assets

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Dizon seeks freeze order on Co’s nearly P5-billion air assets

Andrea Taguines,

ABS-CBN News

Published Sep 24, 2025 09:26 AM PHT

|

Updated Sep 24, 2025 01:24 PM PHT

Read More:

DPWH

corruption

flood control

Vince Dizon

Zaldy Co

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