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Records from CAAP show that companies linked to Zaldy Co collectively own 9 aircraft worth $82.59 million or around P4.8 billion
MANILA, Philippines – The Civil Aviation Authority of the Philippines (CAAP) confirmed on Wednesday, October 29, that three aircraft linked to former Ako Bicol representative Zaldy Co, are no longer in the country.
According to CAAP, two AgustaWestland helicopters flew to Kota Kinabalu, Malaysia, on August 20 and September 11, while a Gulfstream aircraft has been in Singapore since August 16.
CAAP said it continues to monitor all registered air assets in compliance with existing regulations.
The Department of Public Works and Highways earlier asked the Anti-Money Laundering Council (AMLC) to freeze the air assets of Misibis Aviation & Development Corporation and Hi-Tone Construction & Development Corporation, both linked to Co.
Records from CAAP show that these companies collectively own 9 aircraft worth $82.59 million or around P4.8 billion.
Rappler reported last September 3 that Co had left the country for the United States supposedly for medical treatment. He is facing allegations of corrupting the national budget.
Co has been in the spotlight over his ties to Sunwest and Hi-Tone, companies that have been named by President Ferdinand Marcos Jr. as among the top flood control contractors in the country.
– Rappler.com