MANILA, Nov. 28 -- First Lady Liza Araneta-Marcos merely shrugged off former Ako Bicol Party-list Rep. Zaldy Co's "baseless" allegation about her alleged links to the onion and rice cartel, Malacanang said on Friday.

"Kilala po natin ang First Lady kung paano mag-react sa mga ganitong negatibo na mga balita, mga kwentong walang basehan. Magkikibit-balikat lang ang First Lady. (We know how the First Lady reacts to these kinds of negative news, stories without basis. The First Lady will just shrug it off)," Palace Press Officer Claire Castro told reporters.

Castro made the remarks after Co, in a video message released on Wednesday, alleged that the First Lady and her brother, Martin Araneta, were benefiting from agricultural imports.

Co ...