The Anti-Money Laundering Council (AMLC) has filed a civil forfeiture case involving the bank accounts of detained former House Speaker Martin Romualdez as authorities investigate financial transactions linked to his ₱7.44-billion plunder case. The case also reaches companies and assets that investigators link to billion-peso properties in Forbes Park, Makati.
Civil forfeiture is a legal proceeding in which authorities seek to recover assets believed to be linked to unlawful activities.
At Thursday’s Sandiganbayan Third Division bail hearing, AMLC investigator Jan Mark Busa confirmed the Court of Appeals approved freezing Romualdez’s bank accounts and examining his records. An earlier freeze order also covered a 3,196-square-meter Tamarind Road estate in South Forbes Park, bought in 2023 by Golden Pheasant Holdings Corp.
The investigation followed a referral from the Office of the Ombudsman concerning Romualdez’s financial activities. The AMLC examined banking records covering April 2003 to October 2025, identifying 1,951 transactions involving 35 bank accounts under Romualdez’s name.
Transactions peaked twice: ₱3.9 billion from April 2003 to June 2007, before he entered politics, and ₱4.509 billion from June 2022 to September 2025, during his term as House Speaker.
Golden Pheasant bought the Tamarind property with funds routed through Samchan Foreign Exchange Corp., which issued 21 manager’s checks totaling about ₱1.5 billion to the Ocampo, Manalo, Valdez and Lim Law Firm (OMLAW). The money moved from Samchan to OMLAW to Golden Pheasant.
Prosecutors allege Golden Pheasant, Braavos Holdings OPC and Valiant Consolidated Resources Inc. were shell companies used to hold assets for Romualdez. They also allege the 14 Narra Avenue property was acquired through Brightnews Corp., with funds from Trans Middle East.
Romualdez remains detained at the Quezon City Jail-Male Dormitory in Payatas while proceedings on his bail application continue.
