Former House Speaker and Leyte Representative Martin Romualdez. Photo courtesy of PNA.
Former House Speaker Martin Romualdez and former Ako Bicol Rep. Zaldy Co now face a plunder case before the Sandiganbayan over an alleged multibillion-peso kickback operation tied to government infrastructure spending from 2022 to 2025.
The Office of the Ombudsman filed the case Monday, Sept. 7, naming Romualdez, Co, Romualdez aide Joselyn Tragua Serenio and Samchan Foreign Exchange Corp. president Felicito Cristobal Guevarra as accused. Judicial records showed that no bail was recommended in the plunder case.
Prosecutors alleged that at least Php 7.44 billion in commissions, shares, kickbacks and other financial benefits changed hands through at least 15 transactions. The money was allegedly sourced from contractors and other parties with interests in flood control, infrastructure and other projects funded through national budgets between 2022 and 2025.
The court filing represents a narrower amount than the roughly Php 56 billion in alleged ill-gotten wealth examined during the Ombudsman’s earlier investigation. In July, investigators accused Romualdez, Co and other respondents of involvement in a broader scheme involving the diversion or misuse of government funds over the same four-year period.
The investigation had also examined possible violations beyond plunder. A special Ombudsman panel previously pursued allegations involving direct and indirect bribery, graft and money laundering, although Monday’s Sandiganbayan filing concerns the plunder charge.
Ombudsman Jesus Crispin Remulla said his office wanted to build the case sufficiently before bringing it to court, describing the process of gathering and evaluating evidence as difficult. The case was subsequently assigned to the Sandiganbayan Third Division.
The proceedings follow months of conflicting accounts surrounding the flood control investigation. Some former security personnel had alleged cash deliveries involving Romualdez and Co, while several witnesses later withdrew their statements. Despite those recantations, the Ombudsman said in August that 28 other witnesses possessed material information relevant to its investigation.
Romualdez has repeatedly denied receiving bribes or participating in irregular flood control transactions. His lawyer, Ade Fajardo, said after the filing that Romualdez would face the allegations in accordance with law and was seeking the same due process and fair hearing afforded to other accused persons. The filing of the case is not a finding of guilt, and the allegations must still be proven before the Sandiganbayan.
