President Ferdinand “Bongbong” Marcos Jr. on Wednesday accused the camp of former Ako Bicol Party-list representative Zaldy Co of attempting to "blackmail him" amid an expanding investigation into alleged anomalies in flood control projects.

In a video statement released on his social media accounts, Marcos said Atty. Ruy Rondain, lawyer of ex-House appropriations chair Co, allegedly approached him to request that Co’s passport not be canceled.

“Nilapitan po kami ng abogado ni Zaldy Co at nagtatangkang mag-blackmail na kung hindi po namin kakanselahin daw ang passport niya, hindi na raw siya maglalabas ng video,” Marcos said in the statement.

In response, Marcos said that he “does not negotiate with criminals.”

"Kahit maglabas ka na ng video ng lahat ng kasinungalingan mo na pag-destabilize sa gobyerno, gusto kong malaman mo Zaldy," Marcos emphasized.

"Makakansela pa rin ang passport mo. Hindi ka na makakatakas sa hustisya," he noted.

Meanwhile, Marcos also highlighted that the Anti-Money Laundering Council (AMLC) has already frozen approximately ₱12 billion worth of assets linked to the probe, including Co’s ₱4 billion in air assets.

Other frozen assets include:

• 3,566 bank accounts

• 198 insurance policies

• 247 vehicles

• 178 real properties

• 16 e-wallet accounts

“Umpisa lang po ito. Mas marami pong asset ay mafo-frozen para maibalik ang pera ng tao sa kanila," he said.

"Ito po ang aming pangako that the money of the people will be given back to the people,” Marcos added.

The president also noted that the Inter-Agency Committee on Infrastructure (ICI) and the Department of Public Works and Highways (DPWH) will submit evidence to the Ombudsman recommending plunder, anti-graft, bribery, and conflict-of-interest charges against eight congressmen who own construction companies.