Philippine Officials Charged in Corruption Scandal Amid Graft Investigation

MANILA, Philippines — The Philippines’ anti-graft watchdog filed criminal charges against former lawmaker Zaldy Co and several public works officials on Nov. 18 for their alleged involvement in irregularities concerning flood infrastructure. The Office of the Ombudsman announced these charges at a televised briefing, which included violations of laws against graft and malversation of public funds.

This marks the first legal actions taken against individuals implicated in the ongoing corruption scandal that has gripped the nation since President Ferdinand Marcos Jr. first revealed the misuse of state funds in July. The administration hopes to restore public trust and investor confidence through these legal measures.

Co, who previously chaired the House of Representatives’ appropriations committee before resigning, claimed last week that he did not benefit from the alleged graft activities. He accused President Marcos of receiving 25 billion pesos (S$552 million) in kickbacks, a statement that the president’s office has dismissed as “propaganda.”

The corruption scandal has severely affected investor confidence, contributing to a slump in economic growth during the third quarter and causing a decline in the value of the peso and the stock market.