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DPWH ASKS AMLC TO FREEZE P4.7B WORTH OF PLANES, CHOPPERS LINKED TO CONGRESSMAN ZALDY CO

admin September 25, 2025

THE Department of Public Works and Highways (DPWH) has asked the Anti-Money Laundering Council (AMLC) to freeze the billions of pesos worth of aircraft assets linked to Ako Bicol Party-list Rep. Elizaldy “Zaldy” Co.

The move is part of the efforts to recover the alleged ill-gotten assets of personalities linked to the flood control anomalies.

At a press conference on Wednesday, DPWH Secretary Vince Dizon said the Civil Aviation Authority of the Philippines (CAAP) submitted a list of air assets connected to Co and companies associated with his family.

Dizon said the list covers 11 airplanes and helicopters registered to Misibis Aviation and Development Corp., Hi-Tone Construction and Development Corp., and QM Builder, valued at $84.59 million or about P4.7 billion.

Among the aircraft assets are a $36-million Gulfstream 350 business jet and two AgustaWestland AW139 helicopters each valued at $16 million, all under Misibis Aviation led by Co’s son, Michael Ellis.

Hi-Tone Construction, linked to Co’s brother Christopher, also has registered aircraft, including a $6.9-million Agusta A109E helicopter.

The DPWH also requested a freeze on a $2-million Bell 505 aircraft registered under QM Builders, which is among the top 15 contractors flagged by President Ferdinand “Bongbong” Marcos Jr..

Dizon said the DPWH is submitting the list of the air assets to the AMLC for possible freezing of assets.

“Ito ay para bawiin ang mga perang nanakaw sa ating bayan. Umpisa pa lang po ito,” Dizon stressed.

“Hindi po kami titigal hangga’t hindi nababawi ang pera nang bayan,” he added.

Co, the former chairman of the House Committee on Appropriations, is being implicated in the flood control budget controversies.

His family-owned companies and their affiliates have surfaced in investigations linking contractors and public officials in the implementation of overpriced, substandard, and ghost flood control projects.

Co is now in the United States on a medical leave.