APRIL 26, 2026 — The Court of Appeals has frozen former House Speaker Martin Romualdez’s assets — 25 bank accounts, 10 insurance policies, and more — amid allegations of a ₱56-billion flood control kickback scheme. Ombudsman Jesus Crispin Remulla confirmed the move, saying multiple cases are lined up against one of the country’s most powerful politicians.

On April 23, the Court of Appeals issued a freeze order covering Romualdez’s accounts, along with those of a business associate and a corporate entity. The Anti-Money Laundering Council (AMLC) found probable cause linking these assets to plunder, graft, and bribery. 

Among the frozen properties is a ₱1.665-billion luxury estate in Forbes Park, Makati, tied to Golden Pheasant Holdings Corp., a company linked to Jose Raulito Paras.

The freeze order means Romualdez cannot touch these funds while investigations proceed. 

Remulla said, “Ang kalaban namin dito, akusado sa pagnanakaw sa gobyerno. Ito, tiga gobyerno ito, ito maraming pera, may kapangyarihan; hindi ho madaling labanan ito.” 

(We are up against someone accused of stealing from the government. This one’s from the government, with money and power; not easy to fight.)

He revealed that five to six more cases are set to be filed within two weeks, all tied to the same flood control scandal. The Ombudsman insists due process is being followed, but the aggressive pace signals a determined push to hold Romualdez accountable.

The scandal allegedly involves ghost flood control projects and suitcases of cash delivered to politicians’ homes. Witnesses told the Senate Blue Ribbon Committee that kickbacks reached staggering levels — ₱56 billion in total.

Romualdez’s camp, meanwhile, insists he has not been formally charged and remains entitled to the presumption of innocence. His lawyers earlier dismissed talk of a freeze order as “speculative.”

This case is a test of whether institutions can stand up to entrenched power. We are all watching closely. 

Will this be the moment when accountability finally bites, or will it fade into another political drama with no real consequences?

(Image: Screengrab from Martin Romualdez | Facebook)