DECEMBER 24, 2025 — Former lawmaker and fugitive Zaldy Co is under scrutiny again after authorities revealed that his Forbes Park mansion was designed with a five-story basement, allegedly intended to store massive amounts of cash. Interior Secretary Jonvic Remulla disclosed the details Tuesday, citing documents filed with the village association and Makati City government.

Remulla said the unusual design raised suspicions. 

“We always assume that it is for parking but it is to our knowledge that it was going to be used for storage of money because fire go upwards so they put the money below in the lowest point of the house so that it won’t be harmed if there is a fire,” he explained.

He added that Forbes Park’s building rules only regulate vertical construction, not underground levels. 

“Ang Forbes Park ay may floor to area ratio but the floor to area ratio only covers the vertical. It doesn’t cover when it goes down. The only rational use of a 5-story basement is either a parking garage or a storage for money. Kasi it’s very difficult to live in the basement,” Remulla said. 

Investigators also noted that the basement was designed to be waterproof, a feature that could protect its contents in case a fire erupts. 

Construction of the mansion has stalled following Co’s implication in anomalous flood control projects. He fled the country and is believed to be hiding in Portugal, where he reportedly holds a passport.

Remulla confirmed that the property is among Co’s assets eyed for civil forfeiture. The government has already canceled his passport and is exploring legal avenues to secure his arrest.

So why would a private residence need a five-level basement? And what does this say about how wealth is hidden from scrutiny? This certainly underscores how loopholes in regulations can be exploited by those with resources to shield their assets from oversight.

The broader question now is whether the government can effectively pursue fugitives like Co, who appear to have all the means to evade accountability. Hopefully, this case would not simply fade into another unresolved scandal, just like many others before it. 

In the Philippines, the rich who bend the law often bury their sins deeper than justice can dig.

(Image: House of Representatives of the Philippines)