Politics · Philippines Bureau
Witness: Romualdez funds lack direct link to DPWH, projects
An Anti-Money Laundering Council investigator testified that only P560 million flowed into the bank accounts of Leyte Rep. Martin Romualdez during his tenure as Speaker, creating a significant gap with the P57 billion in alleged kickbacks cited by the Ombudsman.
LSN Philippines ·
MANILA — A financial investigator from the Anti-Money Laundering Council (AMLC) has highlighted a substantial discrepancy in the alleged illicit funds connected to Leyte Representative Martin Romualdez, according to testimony presented in an ongoing investigation.
The investigator noted that while the Office of the Ombudsman alleged Romualdez received approximately P57 billion in kickbacks from flood control projects, only P560 million was traced entering his bank accounts during his time as Speaker of the House. The wide gap between the two figures raises questions about the origins and traceability of the funds in question.
According to the witness, financial records examined by the AMLC showed the cash inflows could not be directly linked to the Department of Public Works and Highways, the office's officials, or project contractors involved in the flood mitigation initiatives. The investigation focused on establishing clear connections between project disbursements and personal accounts.
The testimony underscores ongoing efforts to track the sources and destinations of funds allegedly connected to Romualdez, with authorities attempting to establish definitive links between government project expenditures and private banking transactions. The case remains under investigation by multiple agencies.