MANILA, Philippines — Former House Speaker Martin Romualdez and former Ako Bicol party-list Rep. Zaldy Co are accused of conspiring to amass approximately ₱56 billion in ill-gotten wealth through alleged infrastructure kickbacks from 2022 to 2025, according to allegations raised by investigators from the Office of the Ombudsman.
The Ombudsman’s special panel alleged that the scheme involved the diversion and misuse of public funds and the receipt of financial benefits connected to government projects. Investigators also alleged that corporate entities were used as conduits to acquire, transfer, hold or conceal assets purportedly connected to Romualdez and his associates.
The allegations form part of the investigation that led to plunder charges being filed before the Sandiganbayan on September 7. Romualdez has denied wrongdoing and has maintained that he should be given a fair opportunity to answer the accusations against him. Some former security personnel whose testimonies were cited in the investigation have also recanted their earlier statements.
