A freeze order has been issued against Martin and Yedda Romualdez, their two adult children, and a fellow businessman and fraternity brother who is also implicated.
The Court of Appeals has issued a freeze order against the properties and bank accounts of former House Speaker and Leyte Representative Ferdinand Martin Romualdez.
Based on documents obtained, the court found probable cause for the freeze order on assets and accounts allegedly linked to plunder, bribery, graft, and money laundering.
The freeze order was issued on April 22 and is effective for 20 days, during which the accounts are strictly prohibited from being moved, such as through withdrawals or transfers.
The freeze order is based on a petition from the Anti-Money Laundering Council.
“This Court finds the Petition to be sufficient in form and substance, and is satisfied that the verified allegations in the Petition and its supporting documents show probable cause to believe that the subject bank accounts are related to unlawful activities in violation of R.A. No. 9160,” according to the Court of Appeals.
The freeze order covers 35 financial accounts at BDO Life, BDO Unibank, China Bank, Metrobank, and Union Bank of the Philippines connected to Romualdez. Some of these are joint accounts with his wife, Tingog Party-list Representative Yedda Marie Romualdez, and their two daughters, Mariabella Gabrielle “Minxie” Romualdez and Yedda Marie Danielle “Maddey” Romualdez.
Also included in the freeze order is Romualdez’s fraternity brother from Upsilon Sigma Phi at the University of the Philippines and businessman Jose Raulito Enoy Paras. It covers 38 bank and financial accounts at Allianz PNB Life, BPI, BDO Life, BDO Unibank, Metrobank, PNB, RCBC, Sun Life Grepa, UnionBank, and Yapster E-Trade. Some of these are joint accounts with Mildred Mendoza Paras, Lionel Cian Mendoza Paras, and Erika Charlene Flores Morco.
The freeze order also covers properties under Golden Pheasant Holdings Corp., owned by Paras, including two bank accounts at Metro Bank and Philippine Business Bank, and seven luxury condominium units at Shang Robinsons Properties in Bonifacio Global City.
Also included is the “crown jewel” 3,196-square-meter property at 30 Tamarind Road in South Forbes Park, which Golden Pheasant bought for P1.665 billion from Magsaysay-Ho in 2023.
“Before the expiration of the twenty (20)-day freeze order, the Court of Appeals shall conduct a summary hearing, with notice to the parties, to determine whether or not to modify or lift the freeze order, or to extend its effectivity,” according to the freeze order.
Court of Appeals
The Court of Appeals is a judicial body that reviews decisions made by lower courts to ensure legal errors were not made during trials. Its history traces back to medieval England, where the concept of appellate review emerged as a means to correct injustices, later evolving into a formalized system in many countries. Today, it serves as a critical check on judicial power, upholding the rule of law by providing a mechanism for appeal.
University of the Philippines
The University of the Philippines is a premier public research university system in the Philippines, established in 1908 by
Court of Appeals
The Court of Appeals is a pivotal judicial body responsible for reviewing decisions made by lower courts, ensuring the correct application of law. Its history often traces back to the development of hierarchical legal systems, such as the English common law tradition, which established appellate courts to correct errors and set legal precedents. Today, it serves as an essential check within the judiciary, upholding justice and consistency in the interpretation of laws.
University of the Philippines
The University of the Philippines (UP) is a premier public research university system in the Philippines, established in 1908 by the American colonial government. Initially founded as a single campus in Manila, it has since expanded to become a system of eight constituent universities across the country, renowned for its academic excellence and its role in shaping the nation’s leaders and intellectuals. Historically, UP has been a center of progressive thought and political activism, playing a significant role in national movements for democracy and social change.
Upsilon Sigma Phi
Upsilon Sigma Phi is the oldest Greek-letter organization in Asia, founded on July 1, 1918, at the University of the Philippines. Originally established as a fraternity, it has played a significant role in Philippine history, counting several national heroes, presidents, and prominent figures among its members. The organization is known for fostering brotherhood, leadership, and service, and it continues to be an influential part of Filipino campus culture.
Bonifacio Global City
Bonifacio Global City (BGC) is a major financial and lifestyle district in Metro Manila, Philippines, built on the former grounds of Fort Bonifacio, a military camp named after Filipino revolutionary hero Andrés Bonifacio. Developed in the early 2000s, it transformed from a military base into a modern, master-planned urban center known for its skyscrapers, parks, and vibrant dining and arts scene. Today, BGC stands as a symbol of the Philippines’ rapid economic growth and urban development.
South Forbes Park
South Forbes Park is an upscale residential subdivision in Makati, Philippines, developed in the 1950s by the Forbes Park Association. It was originally part of the larger Forbes Park, a premier gated community known for its exclusive homes and tree-lined streets, established during the American colonial era. Today, it remains a prestigious address in Metro Manila, home to many affluent families and foreign diplomats.
Tamarind Road
Tamarind Road is a scenic, winding road in Hong Kong’s New Territories, known for its lush greenery and historic village settlements. It was originally a path used by local farmers and later developed into a popular route for hikers and cyclists. The area retains a rustic charm, offering a glimpse into the region’s rural heritage amidst modern development.
Shang Robinsons Properties
Shang Robinsons Properties is a real estate development company based in the Philippines, known for its residential and commercial projects. While specific historical details are limited, the company is part of the larger Robinsons Land Corporation, a major player in Philippine real estate since the 1980s. It focuses on providing modern living spaces and investment opportunities in key urban areas.
Golden Pheasant Holdings Corp.
The Golden Pheasant Holdings Corp. is not a well-known cultural site or historical place; rather, it appears to be a business entity, likely a corporation involved in holdings or investments. The name “Golden Pheasant” may evoke imagery associated with Chinese culture or luxury, but without specific historical or cultural context, it does not correspond to a recognized landmark or heritage site. If you meant a different location or site, please provide more details for an accurate summary.
