The total “ill-gotten wealth” of fugitive former Ako Bicol Partylist Rep. Zaldy Co is estimated to reach one billion dollars, according to DILG Secretary Jonvic Remulla.
Remulla said Co began smuggling his assets out of the country after he was removed as chairman of the House Appropriations Committee in January 2025.
Co allegedly transported his wealth aboard his own private plane to the Middle East, while other assets were transferred through cryptocurrency.
“It started when he was removed as appropriations chair, parang he saw the writings on the wall, Kriminal talaga. Gumawa talaga ng paraan alam nya wala pang charges,” Remulla said in the *Fact First with Christian Esguerra* podcast.
“What we know is that over P5-B was transferred through crypto, it went out of the Philippines, and he also had many accounts that early on were brought to the Middle East. What I know is that it was carried by private plane to the Middle East,” he added.
“Over P12-B was taken out. It’s all mixed — paintings, jewelries, many gold bars, a lot of them were transferred over the past few months.”
Remulla believes Co’s acquisition of a Portuguese passport is part of the lawmaker’s “escape route.”
“Ganyan talaga ang mga kriminal na magagaling, may escape route sila,” he said.
Remulla said he plans to travel to Portugal to coordinate with authorities there to bring Co back to the Philippines.
Based on information he received, Co is reportedly living with his entire family, including his siblings, in a gated community in Portugal. (RRN)
