What is BEDCO?

I received this perturbing message few days ago:

Have you ever heard of Bangsa Moro Economic Development Council (BEDCO)? It was funded by OAB with a whooping 3 billion dollars to create a separate government for Moro people. Forty per cent (40%) of this went to GMA many years ago through FGMA. No wonder this ancestral domain claim surfaced. We were sold by GMA to Moro people by many years. For your information and for whatever action/actions you may want.

Janejane's annotation: Shameless. As the saying goes, "The rich are getting richer and the poor are getting poorer." No wonder why most Filipinos want to leave and live elsewhere. Oh! What a pathetic "sight."