Presidential Investigation Body
Appears in 1 story · Last updated May 19, 2026
As of May 2026: Actively investigating; recommended plunder charges against Romualdez and Co in November 2025
President Ferdinand Marcos Jr. signed a $115 billion budget on January 5, 2026, while vetoing $1.6 billion in unprogrammed appropriations—slashing discretionary funds to their lowest level since 2019. The veto follows scandal over phantom flood control projects: former lawmaker Zaldy Co admitted to inserting $1.69 billion into the 2025 budget, implicating Marcos's cousin, then-House Speaker Martin Romualdez, in an alleged kickback scheme.
Updated May 19
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