Waiting for Co
President Marcos’ late-night announcement last week that fugitive Elizaldy “Zaldy” Co was arrested in the Czech Republic rekindled hopes that a reckoning is finally within reach for the masterminds and key players involved in the plunder of billions of pesos in flood control projects.
It had been nine months since the President’s “mahiya naman kayo” speech, where he exposed massive ...
This case exemplifies the high-stakes interplay between corruption, political power, and international legal loopholes. The strongest version of the narrative—Co as a central figure in a massive kickback scheme—is supported by DPWH testimony and financial records. However, his counter-accusations against Marcos and Romualdez introduce a "motte-and-bailey" dynamic: if true, they implicate the highest offices; if false, they serve as a distraction. The lack of an extradition treaty and Co’s potent...