Martin Romualdez, Zaldy Co face plunder case over alleged P7.4 billion kickback scheme

The Office of the Ombudsman has formally charged former House Speaker Ferdinand Martin Romualdez and former Ako Bicol Party-list Representative Elizaldy “Zaldy” Co with non-bailable plunder before the Sandiganbayan over an alleged ₱7.4-billion corruption scheme involving government infrastructure projects.  

Named as co-accused in the indictment filed Monday (September 7, 2026) are Jocelyn Sereño, an alleged household aide of Romualdez, and money exchanger Felecito Guevarra.

The court also issued hold departure orders against the accused in the plunder case.

The criminal case has been assigned via raffle to the Sandiganbayan Third Division, presided over by Associate Justice Karl Miranda.

The court’s Third Division also handles the plunder case against incumbent Senator Rodante Marcoleta and the malversation case against former Senator Ramon “Bong” Revilla, Jr.

Anti-graft investigators asserted that a months-long inquiry yielded sufficient evidence to establish a prima facie case with reasonable certainty of conviction against the Leyte First District representative.

According to a press briefing released by the Ombudsman, the respondents allegedly systematically amassed approximately ₱7.4 billion in kickbacks, quotas, commissions, and illicit financial incentives from contractors and entities seeking public work allocations between 2022 and 2025.

“Matapos ang ilang buwang pag-iimbestiga at pagsalang sa proseso ng batas, nakitaan ng aming Opisina ng prima facie evidence with reasonable certainty of conviction para kasuhan ng Plunder o pandarambong si Leyte First District Representative at dating House Speaker Ferdinand Martin G. Romualdez,” the OMB said in a press briefer.

“Para ito sa pagkamal ng humigit kumulang P7.4-Billion mula sa mga komisyon, commitment, quota, suhol at iba pa, galing sa mga napangakuan ng mga proyekto ng pamahalaan mula 2022 hanggang 2025,” it added.

Formal charges submitted to the Sandiganbayan detail at least 15 separate instances where Romualdez and Co allegedly accepted monetary benefits, either directly or through designated proxies. 

State prosecutors stated that these funds were allegedly diverted from public infrastructure programs, including flood-control developments funded under Philippine national budgets from 2022 to 2025.  

The investigators further claimed that  illicit payments were funneled to properties linked to Romualdez, with Sereño and other intermediaries allegedly accepting cash deliveries on his behalf.  

The Ombudsman stated that the accused allegedly abused their official positions, political clout, and influence to orchestrate the scheme "at the expense and to the damage and prejudice of the Filipino people and the Republic of the Philippines.”

With the formal court entry, the Sandiganbayan is set to evaluate the charge sheet to determine the issuance of arrest warrants and the next stages of the judicial proceedings. 

-Paraluman News