NATIONAL
Advocates Philippines
AMLC Report Flags P802M Transactions Linked To Zaldy Co
FILE
Fresh details have surfaced in the ongoing investigation into alleged irregularities in flood control projects, with the Anti-Money Laundering Council (AMLC) reportedly tracing hundreds of millions of pesos in bank inflows linked to former Ako Bicol party-list Rep. Zaldy Co.
Based on reports citing financial documents, around ₱802 million was allegedly transferred from Sunwest Construction and Development Corp. to accounts associated with Co. Investigators are examining whether these transactions indicate possible financial ties between the former lawmaker and the construction firm.
The reported transactions are now being reviewed as part of a broader probe into alleged anomalies in government-funded flood control projects, where Sunwest has been linked to several contracts.
Authorities are looking into whether the movement of funds may be connected to potential kickbacks or unauthorized use of public funds, though no formal charges have been publicly confirmed as of writing.
Focus on Beneficial Ownership
Central to the investigation is the concept of beneficial ownership, which refers to individuals who ultimately control or benefit from a company, even if they are not listed in official corporate records.
Investigators are assessing whether the financial flows could suggest undisclosed interests or influence over the company’s operations.
Flood Control Funds Under Scrutiny
Flood control projects, which receive significant government funding to mitigate the impact of typhoons and heavy rains, have long been subject to scrutiny due to their scale and complexity.
The case comes amid broader efforts to strengthen oversight of infrastructure spending and combat financial crimes. The AMLC plays a key role in tracing suspicious financial activity and supporting investigations involving public officials and private contractors.
As the probe continues, authorities are expected to gather more financial records and determine whether the findings will lead to formal complaints or legal action.
Based on reports citing financial documents, around ₱802 million was allegedly transferred from Sunwest Construction and Development Corp. to accounts associated with Co. Investigators are examining whether these transactions indicate possible financial ties between the former lawmaker and the construction firm.
The reported transactions are now being reviewed as part of a broader probe into alleged anomalies in government-funded flood control projects, where Sunwest has been linked to several contracts.
Authorities are looking into whether the movement of funds may be connected to potential kickbacks or unauthorized use of public funds, though no formal charges have been publicly confirmed as of writing.
Focus on Beneficial Ownership
Central to the investigation is the concept of beneficial ownership, which refers to individuals who ultimately control or benefit from a company, even if they are not listed in official corporate records.
Investigators are assessing whether the financial flows could suggest undisclosed interests or influence over the company’s operations.
Flood Control Funds Under Scrutiny
Flood control projects, which receive significant government funding to mitigate the impact of typhoons and heavy rains, have long been subject to scrutiny due to their scale and complexity.
The case comes amid broader efforts to strengthen oversight of infrastructure spending and combat financial crimes. The AMLC plays a key role in tracing suspicious financial activity and supporting investigations involving public officials and private contractors.
As the probe continues, authorities are expected to gather more financial records and determine whether the findings will lead to formal complaints or legal action.
Apr 7, 2026
We are dedicated storytellers with a passion for bringing your brand to life. Our services range from news and media features to brand promotion and collaborations.
Interested? Visit our
Contact Us page for more information. To learn more about what we offer, check out our latest article on services and opportunities.
