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Home News Investigations

Blue Ribbon bomb: Jinggoy, Joel, Bong Revilla, Zaldy Co named in scandal; bank accounts may be frozen

Vea Ysabel Carreon by Vea Ysabel Carreon
September 24, 2025
in Investigations, News, Politics
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Blue Ribbon bomb: Jinggoy, Joel, Bong Revilla, Zaldy Co named in scandal; bank accounts may be frozen
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Former Bulacan District Engineer Henry Alcantara has come forward with explosive allegations linking sitting senators Jinggoy Estrada and Joel Villanueva, former senator Ramon Bong Revilla, Jr., and Ako Bicol partylist representative Rep. Zaldy Co to questionable flood control projects amounting to billions of pesos from 2019 to 2025.

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In a sworn statement submitted to the Senate, Alcantara admitted to acting as a conduit in several transactions but insisted he had no direct dealings with the senators themselves.

Alcantara alleged that in 2022, Sen. Joel Villanueva’s district was allocated ₱600 million for multipurpose buildings, far short of the ₱1.5 billion originally requested. He said these funds were eventually charged to flood control projects under the unprogrammed appropriations.

From that allocation, a 25% cut — ₱150 million — was set aside. Alcantara said he delivered this amount to Villanueva’s local staff in Bocaue, Bulacan, telling them: “Pakibigay mo na kay Boss, tulong ko to kung ano man ang future na plano niya.” He maintained that Villanueva had no direct knowledge that the ₱150 million came from flood control funds.

With respect to Sen. Jinggoy Estrada, Alcantara said his name surfaced in 2024 budget discussions tied to ₱355 million worth of pumping station and flood control projects. He stressed, however, that he never had any direct communication with Estrada.

Alcantara alleged that a ₱300 million allocation in the 2024 General Appropriations Act was intended for Sen. Ramon “Bong” Revilla Jr., who was then seeking reelection. He claimed that unlike the usual 25% share, the proponent’s cut was raised to 30% — or roughly ₱90 million — though he emphasized he never dealt with Revilla personally.

Alcantara also implicated Rep. Zaldy Co, recounting that they first met in 2021 in Taguig, where Co expressed intent to funnel funds into Bulacan’s 1st District. By 2022, Alcantara said Co had given ₱519 million worth of projects for implementation by the Department of Public Works and Highways Bulacan 1st District Engineering Office.

From 2022 to 2025, Alcantara claimed Co became a “vital player,” linking his district to 426 projects worth about ₱35.2 billion. He alleged that in 2022, Co’s camp initially asked for a 20% share of project allocations, but this increased to 25% from 2023 to 2025.

Payments, Alcantara said, were either advanced through him or delivered by his men to Co’s representatives identified as “Paul” and “Mark,” with transactions taking place in hotel parking lots or at Co’s residence in Pasig.

He further alleged that from 2023 to 2025, Co was also instrumental in distributing allocations to other districts, concealing the true source of the funds from the public.

The National Bureau of Investigation has recommended filing criminal cases against Senators Villanueva, Estrada, and Revilla, as well as Rep. Zaldy Co, based on Alcantara’s sworn statement.

The Anti-Money Laundering Council, however, has not yet frozen their bank accounts, though officials said the process is being expedited with supporting documents already filed to secure court-issued freeze orders.

Tags: AMLCBong RevillaJinggoy EstradaJoel VillanuevaNBISenate Blue RibbonZaldy Co
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Vea Ysabel Carreon

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