07/09/2026
BREAKING: Sandiganbayan Orders Arrest of Martin Romualdez and Rep. Zaldy Co Over P7.4-B Flood Control Plunder Case
MANILA, Philippines — The Sandiganbayan Third Division has issued warrants of arrest against former House Speaker and Leyte Representative Martin Romualdez, former Ako Bicol party-list Representative Zaldy Co, and other accused in connection with the alleged ₱7.4-billion flood control kickback scheme, according to reports on Monday, September 7, 2026.
The case stems from allegations that billions of pesos in commissions, kickbacks and other financial benefits were obtained from contractors and entities involved in flood control, infrastructure and other government projects funded from 2022 to 2025. Prosecutors alleged that the transactions involved at least 15 instances amounting to approximately ₱7.4 billion.
The Office of the Ombudsman earlier filed the plunder case before the Sandiganbayan on Monday. The case was subsequently raffled to the court's Third Division, chaired by Associate Justice Karl Miranda.
Also named as accused are Joselyn Tragua Serenio, identified as Romualdez's personal assistant, and Felicito Cristobal Guevarra, president of Samchan Foreign Exchange Corporation.
The prosecution alleges that the money came from contractors and other parties with interests in government-funded projects, including flood control works. Some of the alleged proceeds were reportedly delivered to properties associated with Romualdez and received by Serenio and other individuals allegedly acting on his behalf.
Aside from the arrest warrants, the court also issued hold departure orders, restricting the accused from leaving the country while the proceedings are ongoing.
Romualdez's legal counsel, Ade Fajardo, said the former Speaker would face the allegations and called for due process and a fair hearing. His camp has repeatedly denied wrongdoing and maintained that criminal liability must be determined based on evidence presented in court.
The case represents a significant development in the government's continuing investigation into alleged irregularities surrounding flood control projects.
The accused remain entitled to the presumption of innocence unless and until proven guilty in court.
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