The Office of the Ombudsman is readying two separate complaints for preliminary investigation against former House Speaker Martin Romualdez, former Ako Bicol Party-list Representative Zaldy Co, and several others over their alleged involvement in flood control project anomalies.
Assistant Ombudsman Mico Clavano confirmed during a media briefing that the planned complaints involve charges of plunder under Republic Act No. 7080 and violations of the Anti-Money Laundering Act.
“After a thorough and painstaking investigation, the Office of the Ombudsman is set to file two separate complaints for preliminary investigation against former House Speaker Martin Romualdez, Mr. Elizaldy Co and several others: one for Plunder under Republic Act No. 7080, and another for violation of the Anti-Money Laundering Act, as amended,” Clavano said during a media briefing.
Clavano emphasized that initiating a preliminary investigation does not equal a criminal conviction or a formal charge in court.
“It is this Office’s determination that the evidence gathered is substantial enough to warrant a full and formal inquiry into whether or not the case should be filed in court,” he said during a press briefing on Monday, July 20.
The respondents, including Romualdez, will be given the opportunity to present their counter-affidavits before prosecutors decide if the cases will be elevated to the Sandiganbayan.
“Once we receive his defense and that of his co-respondents, the case will be submitted for resolution, and the decision will lie with the panel of prosecutors whether or not the case should be filed in the Sandiganbayan,” he said.
“I would like to assure the public that this Office follows the evidence wherever it leads — regardless of the office once held, the influence still wielded, or the political weight of the name involved.”
Investigators pinpointed Romualdez as the key figure behind a system designed to siphon public funds intended for critical infrastructure.
Clavano said investigators identified Romualdez as “the central figure in a scheme built on the diversion of public funds meant for flood control projects — funds that were supposed to shield Filipino communities from the very floods that, year after year, take their homes, their livelihoods, and too often, their lives.”
“His co-respondents in this complaint include former congressman Zaldy Co, among others,” he added.
The state prosecutor explained that sworn statements from eight former security details of Co form the backbone of the case, detailing direct cash deliveries to Romualdez.
“This is not hearsay passed down secondhand. It is firsthand account from those who were there,” Clavano said.
Financial documents and records linked to entities connected to the former Speaker further corroborate these witness accounts.
“That testimony does not stand alone. It is corroborated by an independent evidentiary trail — from money exchange companies to bank transfers to shell companies — all using personalities tied to the former Speaker, Martin Romualdez,” he went on.
According to state investigators, the security guards’ statements provided the initial paper trail of funds routed to Romualdez, which were subsequently laundered.
“Investigation yields, however, that the money trail did not stop there. In an apparent attempt to cover up the extraordinary wealth, the money was exchanged, co-mingled and laundered through an elaborate scheme,” said Clavano.
The Ombudsman’s team uncovered assets, investments, and luxury properties that were allegedly acquired to obscure the origin of the illicit funds.
“The result? Numerous luxury houses and condominiums, extravagant investments in different industries, and enough money left to change narratives, buy opinions and attempts to destroy and manipulate evidence. Records drawn from the Anti-Money Laundering Council, money service businesses, and corporate structures that our investigators allege were used as instruments in this scheme, when read together, tell one consistent story.”
Clavano also shared reports that Romualdez might attempt to depart the country despite an active Precautionary Hold Departure Order issued by the Sandiganbayan.
“The office calls on all relevant agencies to make sure this does not happen,” he said.
He underscored that the investigation remains active and that additional complaints may follow.
“Let me make this clear. We are not done collecting evidence. We are not done filing cases. The investigation reveals more and more each day and each week,” Clavano added.
The Assistant Ombudsman reiterated their commitment to upholding their legal mandate based on the evidence collected.
“So, we build cases as the evidence comes and each element and crime becomes apparent. As more come, the more we work and the more our cases churn,” he said.