A tell-all, maybe
With Elizaldy Co soon Manila-bound, will we be finding out where all the bodies are buried?
That’s what people are hoping for. His former party-list mate in Ako Bicol, Rep. Alfredo Garbin Jr., said that Co would not change the stories of corruption that he narrated in social media posts, and would even provide more information.
Zaldy Co headed the committee on appropriations of the House of Representatives from the start of the 19th Congress until he was unceremoniously kicked out through a motion of President Marcos’ congressman son Sandro in January 2025.
By that time, what finance experts have described as “the most corrupt budget ever” – the 2025 General Appropriations Act – had already been signed into law by BBM. It followed what must be the first runner-up in the corruption category, the GAA for 2024, which also featured fat unprogrammed appropriations and politicized ayuda programs, to be funded by billions impounded from all government corporations, including the Philippine Health Insurance Corp. and Philippine Deposit Insurance Corp (PDIC).
Then finance secretary Ralph Recto dutifully carried out the GAA provision on impounding of the funds. Incidentally, Recto, now the executive secretary, has been accused of blocking proposals to suspend or even reduce the government’s massive windfall taxes on diesel and gasoline during this fuel crisis.
Co could tell us who was ultimately behind that creative impounding of PhilHealth, PDIC and other government corporations’ funds, to finance the new congressional pork barrel, the unprogrammed appropriations. Also, whose idea was it to bloat the unprogrammed appropriations in the GAA?
He can also enlighten the nation on the budget insertions and “allocables” in crafting the annual outlay, particularly during the closed-door bicameral conference.
* * *
Upon his return, Co can execute a sworn testimony affirming the accusations he hurled in his video messages, notably that former budget secretary Amenah Pangandaman had allegedly relayed to him supposed instructions from BBM to insert P100 billion for projects during the bicam on the 2025 GAA.
Co claimed the instruction from BBM was confirmed by Adrian Bersamin, at the time a Palace undersecretary, and then House speaker Martin Romualdez. Bersamin is said to be a favorite grandnephew of BBM’s former executive secretary, Lucas Bersamin.
The testimony of Co is believed to be the smoking gun that could pin down Romualdez in both the budget and flood control anomalies. Co has claimed that he stayed out of the country upon the behest of Romualdez as the flood control scandal heated up.
Because of the roles of the House speaker and committee on appropriations chair in crafting the national budget, it had been noted from the start that the sincerity of BBM’s anti-corruption crackdown would be tested by how he would deal with his favorite cousin.
A common perception is that when the manure hit the fan and landed on the doorstep of Romualdez and officials close to BBM, the anti-corruption drive lost steam.
The camp of Romualdez has sought to disabuse the public mind of the notion that the speaker handpicks the appropriations committee chair and micromanages the activities of the powerful panel. The camp also maintains that there is no solid evidence directly linking Romualdez to either the budget or flood control anomalies.
The DDS aren’t the only ones who scoff at these stories, preferring instead to believe the allegations hurled by Co and ex-Marine Orly Guteza, now missing in action, as well as 18 former soldiers.
It didn’t help Romualdez that the unlamented Independent Commission for Infrastructure questioned him behind closed doors and kept its report on that session under wraps. And even the usually gung-ho Senate Blue Ribbon committee seems to be walking on eggshells when it comes to Romualdez.
* * *
Last April 7, Ombudsman Jesus Crispin Remulla announced that his office was “seriously” preparing plunder charges against Romualdez, who resigned as speaker, and Francis Escudero, who was ousted as Senate president.
Even this move, however, has its skeptics, since Remulla had previously said plunder is difficult to prove, and it’s easier to prosecute a case for malversation of public funds through falsification of documents – an offense that like plunder is non-bailable and carries the maximum penalty of life in prison.
Romualdez maintains his innocence, so he should be able to easily disprove the accusations.
BBM, his wife Liza and their son Sandro have also been implicated in crooked deals – all of which Malacañang has denied.
Administration officials have posed a valid question: if BBM is involved in the mess, why did he carry out the crackdown, which started with his “mahiya naman kayo” speech?
Critics, however, have countered that BBM simply didn’t know what he had unleashed, and still has no clear idea of where the campaign is headed or how to do damage control.
Garbin has said Zaldy Co will tell all, and more. But skepticism persists over a genuine tell-all.
It’s reasonable to expect Co to be guided not so much by his conscience, a sense of shame or any other altruistic motives, but by his need for survival.
This need may be addressed at the expense of the unembellished truth.
- Latest
- Trending


















