Philippine ex-speaker stashed billions of pesos ‘he could no longer hide’: prosecutors

Ex-House speaker Martin Romualdez is accused of buying mansions and shares in an attempt to hide ill-gotten gains

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House Speaker Martin Romualdez (right) speaks as Philippine President Ferdinand Marcos Jnr looks on at the House of Representatives in Quezon City last year. Photo: Getty Images

Published: 3:38pm, 8 Sep 2026Updated: 3:44pm, 8 Sep 2026

Martin Romualdez, a cousin of Philippine President Ferdinand Marcos Jnr, accumulated so much wealth over the past three years that he had to convert it into mansions and shares to avoid scrutiny, the Office of the Ombudsman alleged on Tuesday – a day after filing a plunder case against the former House speaker.

The Ombudsman filed the case on Monday against Romualdez, former House appropriations committee chairman Zaldy Co and two others, accusing them of accepting at least 7.44 billion pesos (US$118 million) in commissions, shares, kickbacks, “commitments” and other financial benefits.

Prosecutors said the money was funnelled from contractors and other individuals with interests in government-funded projects, including flood-control and infrastructure works, between 2022 and 2025, the Philippine Star reported.

The country’s anti-corruption court, known as the Sandiganbayan, found probable cause and issued arrest warrants the same day, with no bail recommended.

Romualdez was arrested that evening at Cardinal Santos Medical Centre in San Juan City, where he was already being treated for what Interior Secretary Jonvic Remulla described as a “cardiovascular event”, unstable blood pressure and an anxiety attack, the Philippine Daily Inquirer reported.

Religious activists take part in an anti-corruption rally in Manila, the Philippines, last year. Photo: AP

Philippine ex-speaker stashed billions of pesos ‘he could no longer hide’: prosecutors

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Ex-House speaker Martin Romualdez is accused of buying mansions and shares in an attempt to hide ill-gotten gains

‘He could no longer hide’

Ex-House speaker Martin Romualdez is accused of buying mansions and shares in an attempt to hide ill-gotten gains