[Rappler Investigates] Oh Martin!

We’ve been monitoring and tracking property acquisitions of certain personalities who have been in the public eye in the last few months because we don’t want to forget. And we don’t want you to forget, either.

There is nothing wrong with purchasing real estate per se. It’s a common form of investment, after all, especially for those who have cash to spare. It brings better returns than depositing funds in a bank. The purchases catch attention and raise some questions, however, when they follow a certain pattern and involve an identical network of individuals who, further digging would reveal, are ultimately linked to the same person.

This is precisely what Lian Buan and Jodesz Gavilan discovered when they started checking out tips about presidential cousin and former House speaker Martin Romualdez. No, they weren’t doing a Franco Mabanta — far from it. 

Recall that Mabanta — founder of the Peanut Gallery Media Network and former social media operator of the Marcoses in 2018 — was arrested on Tuesday, May 5, over alleged extortion against Romualdez. Money involved was reportedly P300 million, with arrangements for the delivery of the first tranche amounting to P75 million already made by entrapment operatives of the National Bureau of Investigation.

Whether or not Mabanta was a “friend” of President Ferdinand Marcos Jr. (take note of how the Palace tried to distance Marcos from Mabanta) is worth noting. It was Romualdez, probably aware of Mabanta’s past association with his cousin, who complained against him. Which brings me back to Romualdez.

Remember these 2025/2026 stories by Jodesz/Lian on properties linked to Martin?

• Multi-million-euro property in Sotogrande in Spain
• Multi-million-dollar Massachusetts property in the US
• Over a billion-peso Forbes Park home in Manila
• Renovated house on Tamarind Road also in Forbes Park

The latest discoveries are in Leyte, bailiwick of Romualdez, involving similar names linked to the former speaker via their common Upsilon fraternity.

• The Tropics Hotel
• Tacloban Golf and Country Club 

Why should we care about these properties? The Office of the Ombudsman was categorical when it specifically referred to the billion-peso Forbes Park property. Indications of “corporate layering and nominee arrangements” that conceal true ownership satisfy “the third element of money laundering.”

I would caution against premature celebration over these findings. Public pronouncements do not equate to successful litigation. An experienced lawyer whom Lian spoke with agreed that the pattern of using other people who belong to essentially the same circle is indicative of “how ill-gotten wealth is usually concealed.” But proving it in court is a “different ball game” altogether. True and tragic.

Romualdez didn’t take the Ombudsman’s pronouncements sitting down. He went on the offensive via a video of himself denying the accusations and issuing a veiled threat against — did I get it right — the President himself? Political reporter Dwight de Leon dissects what Romualdez said in this video.

Over at the former turf of Romualdez, another momentous decision is expected on May 11. As of a May 6 count, 180 legislators will likely signal agreement to the impeachment of Vice President Sara Duterte. The number is expected to rise to between 180 and 200 — more than the constitutional requirement of one-third of the House membership. There are currently 318 lawmakers in the 20th Congress, which means a minimum of 106 votes to indict Duterte.

Her alleged ill-gotten wealth, which was exposed during hearings of the House justice committee, is what supposedly compelled a number of lawmakers to change their minds and agree to vote against her. Shall we take that with a grain of salt or are we just being too cynical? See the inflow and outflow of money, and alleged inconsistencies in declarations in her Statement of Assets, Liabilities, and Net Worth here. Then decide for yourself if you will go for or against the Vice President.

Till Thursday after next. Drop me a line to let me know what you think.

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– Rappler.com

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