THE FORMER SPEAKER. File of former House Speaker Ferdinand Martin G. Romualdez during a political rally of Lakas-Christian Muslim Democrats (Lakas-CMD)for the MarcosTHE FORMER SPEAKER. File of former House Speaker Ferdinand Martin G. Romualdez during a political rally of Lakas-Christian Muslim Democrats (Lakas-CMD)for the Marcos

Romualdez liable in flood control mess – Senate minority ‘report’

2026/01/20 16:10
5 min read
For feedback or concerns regarding this content, please contact us at [email protected]

MANILA, Philippines – Members of the Senate minority bloc believe that former House speaker Martin Romualdez cannot absolve himself from his role in the flood control projects scandal.

In a report released to the media on Tuesday, January 20, the senators noted that Romualdez and resigned congressman Zaldy Co have been mentioned in various testimonies through the Senate blue ribbon committee hearings.

“As the former Speaker of the House of Representatives, he cannot simply absolve himself from any accountability in all that is happening — either he was complicit with the crooks or was grossly negligent in his job. In both cases, he remains liable either way,” they wrote.

Testimonies linking former congressman Zaldy Co and Leyte 1st District Representative Martin Romualdez to the corruption scandal. Image from the minority report.

Rappler earlier reported that a company of Romualdez’s close associate, Golden Pheasant Holdings, purchased a house at 30 Tamarind St. in the upscale subdivision Forbes Park in Makati City for around P1.67 billion. In one of his video testimonials, Co said Romualdez instructed him to deliver P1 billion in cash to this address.

Must Read

Martin Romualdez associate buys Forbes Park house for P1.67 billion

Romualdez’s cousin Senator Imee Marcos also noted that Paras and other associates appear in documents of the former speaker’s properties abroad.

Palagay ko may recurring names, yung pangalan ng mga abogado na nakasulat na proxy, hindi lang sa 30 Tamarind na ulit-ulit na binabanggit, kung ‘di doon sa foreign properties din. ‘Yung Sotogrande yata. Andoon din ‘yung Atty. Paras at ‘yung iba’t ibang law offices,” Marcos noted.

(I believe there are recurring names in the names of the lawyers that are listed as proxies. They’re not just mentioned repeatedly in 30 Tamarind, but in foreign properties too. In the Sotogrande property, I believe, the names of Atty. Paras and various other law offices were also there.)

Rappler previously reported that a multi-million-euro property in Sotogrande, an exclusive neighborhood in Spain, was purchased by a company linked to Romualdez’s associates, including Paras.

Must Read

Multi-million-euro Spain property links to Romualdez

Why a minority report?

Marcoleta – who previously chaired the blue ribbon committee before Senator Ping Lacson took over – initially drafted the report based on the first two hearings on flood control corruption that he oversaw.

“We call it a minority report for lack of a better term because if we base it off our Senate rules, we can’t release this until the committee report is finally complete. But we don’t really know when this will be ready,” Marcoleta explained in Filipino.

“So we called it a minority report in hopes that its content can be used. It contains observations, our findings. It contains the issues we observed and our recommendations.”

But Senate President Tito Sotto described the document as just a piece of paper since the blue ribbon panel has yet to submit its official committee report.

“A minority report is submitted after the committee report of the mother committee has been submitted. Otherwise, it’s a piece of paper or, unless, the report pertains to the two days that was conducted by the previous chairman. Then it is not a minority report. It is simply a report on the said dates,” Sotto said.

Sotto said the document should have been filed with the Legislative Bills and Index Service, but this was submitted instead to his office on December 10. Because of this, his office forwarded the report to the blue ribbon committee.

The report was signed by the following minority bloc senators:

  • Senator Imee Marcos
  • Senator Rodante Marcoleta
  • Senator Ronald “Bato” Dela Rosa
  • Senator Jinggoy Estrada
  • Senator Bong Go
  • Senator Robinhood Padilla

Three senators from the minority bloc did not sign the report: Francis “Chiz” Escudero, Senate Minority Leader Alan Peter Cayetano, and Joel Villanueva.

Marcoleta said that Escudero did not sign the report since he is not a member of the blue ribbon committee. Cayetano did not sign the report because he was ill when the report was being circulated for signatures, while Villanueva told Marcoleta he wanted to go over the report before signing.

Escudero, Villanueva, and Estrada were among those implicated in the scandal for allegedly receiving kickbacks.

Must Read

Embattled Senate fights for relevance amid flood control mess

While the minority bloc’s report does acknowledge their colleagues were named in some of the testimonies, they believe that there is not enough evidence to fully establish their involvement in the scheme.

Former public works undersecretary Roberto Bernardo in September claimed he personally delivered P160 million in kickbacks to businessman Maynard Ngu, Escudero’s campaign donor and friend, supposedly on the former Senate president’s behalf.

The minority bloc senators regarded allegations against Escudero as “controvertible” until object evidence and other witnesses can corroborate Bernardo’s testimony.

Ngu denied the allegations during the Senate blue ribbon committee’s hearing on Monday, January 19. Senators did not ask any further questions on his supposed involvement in the scheme and ties to Escudero.

Bernardo and former Department of Public Works and Highways (DPWH) engineer Brice Hernandez had also linked Estrada to the scheme, with Bernardo claiming that Estrada sought around P1 billion in infrastructure projects. Estrada has previously denied the allegations.

“Upon closer examination, the Minority finds that the allegation against Senator Estrada remains unsubstantiated and unclear. The evidence presented thus far fails to establish any direct participation or authorization by the Senator in the alleged transaction,” the report says. – Rappler.com

Must Read

[Rappler Investigates] The many layers of Martin Romualdez

Market Opportunity
Gravity Logo
Gravity Price(G)
$0.003247
$0.003247$0.003247
-0.42%
USD
Gravity (G) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Gold Hits $3,700 as Sprott’s Wong Says Dollar’s Store-of-Value Crown May Slip

Gold Hits $3,700 as Sprott’s Wong Says Dollar’s Store-of-Value Crown May Slip

The post Gold Hits $3,700 as Sprott’s Wong Says Dollar’s Store-of-Value Crown May Slip appeared on BitcoinEthereumNews.com. Gold is strutting its way into record territory, smashing through $3,700 an ounce Wednesday morning, as Sprott Asset Management strategist Paul Wong says the yellow metal may finally snatch the dollar’s most coveted role: store of value. Wong Warns: Fiscal Dominance Puts U.S. Dollar on Notice, Gold on Top Gold prices eased slightly to $3,678.9 […] Source: https://news.bitcoin.com/gold-hits-3700-as-sprotts-wong-says-dollars-store-of-value-crown-may-slip/
Share
BitcoinEthereumNews2025/09/18 00:33
American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight

American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight

The post American Bitcoin’s $5B Nasdaq Debut Puts Trump-Backed Miner in Crypto Spotlight appeared on BitcoinEthereumNews.com. Key Takeaways: American Bitcoin (ABTC) surged nearly 85% on its Nasdaq debut, briefly reaching a $5B valuation. The Trump family, alongside Hut 8 Mining, controls 98% of the newly merged crypto-mining entity. Eric Trump called Bitcoin “modern-day gold,” predicting it could reach $1 million per coin. American Bitcoin, a fast-rising crypto mining firm with strong political and institutional backing, has officially entered Wall Street. After merging with Gryphon Digital Mining, the company made its Nasdaq debut under the ticker ABTC, instantly drawing global attention to both its stock performance and its bold vision for Bitcoin’s future. Read More: Trump-Backed Crypto Firm Eyes Asia for Bold Bitcoin Expansion Nasdaq Debut: An Explosive First Day ABTC’s first day of trading proved as dramatic as expected. Shares surged almost 85% at the open, touching a peak of $14 before settling at lower levels by the close. That initial spike valued the company around $5 billion, positioning it as one of 2025’s most-watched listings. At the last session, ABTC has been trading at $7.28 per share, which is a small positive 2.97% per day. Although the price has decelerated since opening highs, analysts note that the company has been off to a strong start and early investor activity is a hard-to-find feat in a newly-launched crypto mining business. According to market watchers, the listing comes at a time of new momentum in the digital asset markets. With Bitcoin trading above $110,000 this quarter, American Bitcoin’s entry comes at a time when both institutional investors and retail traders are showing heightened interest in exposure to Bitcoin-linked equities. Ownership Structure: Trump Family and Hut 8 at the Helm Its management and ownership set up has increased the visibility of the company. The Trump family and the Canadian mining giant Hut 8 Mining jointly own 98 percent…
Share
BitcoinEthereumNews2025/09/18 01:33
Trump Issues an Ultimatum to Wall Street

Trump Issues an Ultimatum to Wall Street

The post Trump Issues an Ultimatum to Wall Street appeared on BitcoinEthereumNews.com. Published: Mar 07, 2026 at 21:13 The legislative gridlock in Washington took
Share
BitcoinEthereumNews2026/03/08 05:16