Businessman fraternity brother also implicated: Freeze order issued vs. Martin, Yedda Romualdez, 2 children

The Court of Appeals (CA) has issued a 20-day freeze order on assets and bank accounts linked to former House Speaker and Leyte Representative Ferdinand Martin Romualdez, citing probable cause tied to alleged plunder, bribery, graft, and money laundering.

Documents obtained by Bilyonaryo show the appellate court found sufficient basis to temporarily immobilize the accounts while an investigation is underway.

The order, issued on April 22, strictly prohibits any transactions including withdrawals and fund transfers on the covered accounts.

The freeze stems from a petition filed by the Anti-Money Laundering Council (AMLC).

“This Court finds the Petition to be sufficient in form and substance… and that the allegations and supporting documents show probable cause to believe that the subject bank accounts are related to unlawful activities in violation of R.A. No. 9160,” the CA said.

Covered by the order are 35 financial accounts in major institutions including BDO Life, BDO Unibank, China Bank, Metrobank, and Union Bank of the Philippines, all linked to Romualdez. Several are joint accounts with his wife, Tingog Party-list Representative Yedda Marie Romualdez, and their daughters, Mariabella Gabrielle “Minxie” and Yedda Marie Danielle “Maddey.”

Also swept into the freeze is businessman Jose Raulito Enoy Paras, Romualdez’s fraternity brother from Upsilon Sigma Phi of the University of the Philippines. The order covers 38 additional accounts under his name and associates across multiple banks and financial institutions.

Authorities likewise froze assets under Golden Pheasant Holdings Corp., owned by Paras. These include bank accounts and seven high-end condominium units in Bonifacio Global City.

Among the most notable properties covered is a 3,196-square-meter estate on Tamarind Road in South Forbes Park described as the group’s “crown jewel” acquired in 2023 for ₱1.665 billion.

The CA said it will conduct a summary hearing before the 20-day period lapses to determine whether to lift, extend, or modify the freeze order.