Days before President Ferdinand Marcos Jr.’s State of the Nation Address (SoNA), government investigators are set to conduct a preliminary investigation at the Office of the Ombudsman into complaints against former Speaker Martin Romualdez and former Ako Bicol Rep. Zaldy Co.

In a 104-page supplemental complaint-affidavit, the Ombudsman’s Special Panel of Investigators alleged that Romualdez and Co conspired to amass about P56 billion in ill-gotten wealth between 2022 and 2025. The preliminary investigation will determine whether probable cause exists to pursue the case further.

The complaints against the public figures stemmed from the multibillion-peso flood control scandal, which was first disclosed to the public through the SoNA of President Ferdinand Marcos Jr. in 2025.

Over the past months, the investigative body viewed Romualdez and Co as among the key individuals connected to the issue, with the Ombudsman going as far as declaring the former Speaker as one of the “masterminds” of the scheme.

Non-bailable plunder included

Investigators recommended charges of plunder, direct bribery and violations of Section 3(a) and Section 3(b) of the anti-graft law against both officials.

An additional charge for indirect bribery and money laundering was also sought against Romualdez.

On 20 July, Assistant Ombudsman Mico Clavano said that the filing of the aforementioned cases was a “milestone” for the agency, which spent months uncovering evidence and establishing the elaborate scheme that led to the misappropriation of funds intended for flood control.

Clavano further explained that among the pieces of evidence used to build the case were affidavits from eight out of the 18 supposed former bagmen of Co that attested to delivering cash-filled luggage to numerous public officials in the country.

While the case has already been submitted for preliminary investigation, the official said that it did not necessarily mean that either Romualdez or Co was already found to be guilty, stating that both would be afforded the presumption of innocence and would be allowed to answer the allegations.