Former congressman Elizaldy Co, who has been under intense scrutiny over alleged budget irregularities, released a video message on Friday, November 14, claiming that the controversial P100-billion fund insertion was done under the directive of President Ferdinand “Bongbong” Marcos Jr. and former House Speaker Martin Romualdez.
In the five-minute video sent to reporters, Co accused the current administration of using him as a “scapegoat” in its anti-corruption drive and of exerting pressure to keep him silent.
According to Co, “Ginagamit ng administrasyon ang buong resources ng bansa para tumahimik ako… gagamitin ako bilang panakip-butas sa kanilang kampanya laban sa korapsyon.” He also claimed he was warned that speaking out could put his life in danger.
Says he was told to stay abroad
Co left the country on July 19 for medical reasons. He said he initially planned to return after the President’s State of the Nation Address on July 28, but was instructed by Romualdez to delay his return.
He recounted receiving a message that allegedly said: “Stay out of the country; you will be looked after as the president instructed.” That same period marked the President’s first public order to investigate questionable flood control projects.
Co said he trusted Romualdez’s advice and remained quiet—only to realize later that he was being positioned as the “fall guy.”
“Ginawa nila akong poster boy ng kanilang sariling kasinungalingan… Ilalabas ko ang lahat ng katotohanan — may resibo, may ebidensya at may pangalan,” he said.
How the alleged P100-B insertion unfolded
Co narrated that the controversy began in late 2024 when Budget Secretary Amenah Pangandaman supposedly informed him that the President had ordered the insertion of P100 billion worth of projects into the national budget.
He said he was told to verify the directive with PLLO Undersecretary Adrian Bersamin, who allegedly confirmed being present when the instruction was given. Co then reported the message to Romualdez, who he claims responded: “What the president wants, gets.”
A subsequent meeting was reportedly held in a Malacañang building with Pangandaman, Bersamin, Romualdez, and DOJ Undersecretary Jojo Cadiz. Co said that during this meeting, a brown leather bag containing the P100-billion project list—said to have come directly from the President—was presented.
Co said he initially proposed inserting only P50 billion into the DPWH budget to avoid overshadowing the education allocation. He claims he was told to place the remaining P50 billion under unprogrammed appropriations, which fall under the Office of the President.
His office later released a breakdown totaling P81.08 billion in infrastructure projects and P18.76 billion for other programs, including expenses related to the 2026 ASEAN Summit.
Co questioned why the President now denies knowledge of these insertions, saying budget matters of this scale would normally require presidential approval.
The video released to the media is reportedly Part 1, with a second installment expected but not yet publicly available.
Administration officials deny allegations
The implicated officials have rejected Co’s claims. Palace press officer Claire Castro dismissed his statements as “lies,” while PCO Acting Secretary Dave Gomez and Secretary Pangandaman also denied the accusations.
Co facing separate corruption probes
Beyond the budget controversy, Co is also accused of receiving kickbacks from flood control projects and of involvement with favored contractors. These projects—some allegedly substandard or non-existent—are being investigated by the Senate and the Independent Commission for Infrastructure.
Co already faces complaints before the Office of the Ombudsman and is expected to confront formal charges soon.