Copyright tribune
Former House speaker Martin Romualdez unequivocally denied on Wednesday reports linking him to convicted fraudster, Swiss-British national Patrick Mahony, denouncing them “false” and “baseless.” “The reports attempting to link me to such matters are entirely unfounded, misleading, and malicious,” Romualdez asserted. The denial follows a report by a London-based investigative news outlet, Sarawak Report, alleging that Mahony has been staying in Makati and has been frequently seen with Romualdez discussing the Maharlika Investment Corp. (MIC). The MIC is the country’s first sovereign fund, created by Republic Act 11954, principally authored by Romualdez and administration allies. The article published by Sarawak Report on 20 October further alleged that Mahony—convicted by a Swiss court for embezzling over $1.8 billion from Malaysia’s state investment fund 1MDB—is currently serving as an advisor to the MIC. The MIC categorically denied the article, calling it “misleading” and “potentially damaging,” which must be swiftly corrected if not retracted. Romualdez joined the MIC in denouncing the report, saying he had no hand in any negotiation talks related to the sovereign fund. “I have never had any discussion, meeting, or communication with any individual regarding investments, advisory roles, or management decisions involving the Maharlika Wealth Fund,” the Leyte solon contended. Citing unnamed sources, Sarawak Report said that Romualdez and Mahony have been repeatedly spotted in exclusive and high-profile gatherings “for the past few years” in discussing the MIF and the 1MDB—Malaysia’s state investment fund. Mahony was sentenced in August last year to six years in prison, while his co-accused, Swiss-Saudi Tarek Obaid, got seven years. They were former executives of PetroSaudi, who allegedly entered a joint venture with 1MDB. The two were accused of portraying that the Saudi government backed their firm and later defrauded the 1MDB of over $1.8 billion. The Sarawak Report claimed that the Swiss court granted Mahony the right to travel on the grounds that he was not a flight risk.
