‘Trillion Peso March’ Looms Amid Kleptocracy Allegations

Kleptocracy Exposed: President Ferdinand Marcos Jr. Responds to Public Outcry with Arrest Warrants for Zaldy Co and 17 Others

‘Trillion Peso March’ Looms Amid Kleptocracy Allegations

By Bing Jabadan and Wilma N Yamzon – TheNationWeek.Com | November 24, 2025

MANILA, Philippines – President Ferdinand “Bongbong” Marcos Jr. is scrambling to contain a spiraling scandal involving billions of pesos allegedly siphoned from public works projects, with the Philippine National Police bracing for a massive “Trillion Peso March” planned for Nov. 30.

In an attempt to quell public outrage, Marcos announced the issuance of arrest warrants for former congressman Zaldy Co and 17 others connected to the Department of Public Works and Highways (DPWH) and Sunwest Construction.

The move followed a wave of resignations from key government and cabinet officials, triggered by revelations of substandard and “ghost” flood control projects that have left the country vulnerable to devastating typhoons and flooding.

The Sandiganbayan, the country’s anti-corruption court, has issued warrants for the arrest of Co, who has reportedly gone into hiding, and his alleged accomplices.

Prosecutors are opposing bail, citing the nature of the irregularities surrounding a P289-million ($4.8 million) river dike project in Oriental Mindoro.

“They will be arrested, brought before the court, and held accountable under the law,” President Marcos declared in a video address, promising no preferential treatment.

A Web of Accusations, Shifting Blame

The scandal has ensnared a who’s who of Philippine politics, implicating both allies and opponents of the President.

Former Senate President Chiz Escudero, House Speaker Martin Romualdez, and Senator Bong Go have all been named in connection with the alleged corruption, although each denies any wrongdoing.

Adding fuel to the fire, former President Rodrigo Duterte, currently detained by the International Criminal Court for alleged crimes against humanity, has publicly criticized Marcos and demanded accountability for the 2025 national budget, which allocated funds for the questionable infrastructure projects.

Billions Vanished: A Systemic Crisis?

The scale of the alleged corruption is staggering.

Investigations are underway into 9,855 flood control projects, valued at over P545 billion ($9 billion), initiated since Marcos took office in mid-2022.

Finance Secretary Ralph Recto revealed that as much as P118.5 billion ($2 billion) allocated for flood control may have been lost to corruption since 2023.

The President has hinted at potential plunder, anti-graft, and indirect bribery charges against Speaker Martin Romualdez and Zaldy Co.

However, these moves are viewed with skepticism, particularly after Co publicly accused President Marcos himself of masterminding the flood control irregularities and the pervasive corruption within the DPWH budget.

Beyond flood control, evidence suggests a systemic problem.

Ombudsman Crispin Remulla disclosed Co’s alleged attempts to monopolize e-passport machine contracts at the Bureau of Immigration, while Secretary Francisco Laurel revealed the former lawmaker sought control over fish import allocations.

Competing Narratives, President Under Scrutiny

As the scandal unfolds, two competing narratives emerge:

1. Scapegoating Subordinates: Executive Secretary Bersamin and Budget Secretary Pangandaman are accused of being the masterminds behind the corruption, allegedly receiving ₱26 billion.

2. Blaming Associates: Speaker Martin Romualdez and Zaldy Co are portrayed as the culprits, accumulating vast wealth behind the President.

However, Co’s explosive revelations, claiming he delivered ₱25 billion directly to the President from a separate fund, are undermining attempts to absolve Marcos.

“It is increasingly evident to me and many others that the President was involved from the outset,” Co said, risking his own safety.

“He was not merely an observer; he was the architect and orchestrator of the corruption permeating the national budget.”

 ‘Trillion Peso March’ Looms as Tensions Escalate:

As the nation grapples with the shocking allegations, the Philippine National Police is preparing for the “Trillion Peso March” on Nov. 30, organized by a coalition of church groups and civil society organizations.

The march, a powerful symbol of public discontent, threatens to further destabilize the already fragile political landscape.

The Department of the Interior and Local Government has affirmed citizens’ rights to peaceful assembly but warned against seditious speech.

However, public sentiment is running high, with many believing that the truth will ultimately prevail, regardless of the government’s efforts to suppress it.

The coming days will be critical as the Philippines faces a reckoning with its history of corruption and a fight for the soul of its democracy.

The “Trillion Peso March” could be the tipping point, forcing a long-overdue reckoning at the highest levels of power.