Sandigan upholds ruling to release Kokoy assets

MANILA, Philippines —  The Sandiganbayan has upheld its ruling ordering the release to the family of the late ambassador Benjamin “Kokoy” Romualdez of $5.19 million held in escrow at the Philippine National Bank (PNB).

This is in connection with a wealth forfeiture case filed against Romualdez and his wife by the Office of the Ombudsman in 2011 but dismissed by the anti-graft court in 2018.

In a three-page resolution promulgated on Nov. 14, the court’s Fourth Division has upheld its Oct. 3, 2025 ruling granting the Motion for Release of Escrowed Funds filed by Romualdez’s wife Juliette and their four children, including resigned House speaker and incumbent Leyte Rep. Martin Romualdez.

The Fourth Division said the Office of the Solicitor General (OSG), representing the Presidential Commission on Good Government (PCGG), failed to raise any new matters that would compel the court to reconsider its earlier resolution.

The Fourth Division maintained that the dismissal of the wealth forfeiture case against the Romualdez spouses has already attained finality as more than seven years have lapsed without the OSG assailing the ruling or refiling a forfeiture complaint.

“We reiterate that the OSG’s prolonged inaction, more than seven years since the dismissal of the forfeiture case in 2018, should be taken as an abandonment or waiver of its right to seek forfeiture of the escrowed funds,” the Fourth Division’s new resolution read.

“Such inaction on the part of the OSG is no longer reasonable and should not override the Respondents’ constitutional right to due process,” it added.

The resolution was per curiam or no named ponente but was instead signed by division chairperson Associate Justice Michael Frederick Musngi and members Associate Justices Lorifel Pahimna and Ermin Ernest Louie Miguel.

In its June 18, 2018 resolution, the Fourth Division dismissed the wealth forfeiture suit against the Romualdez spouses, saying that the ombudsman “lacked jurisdiction” in filing the case.

In its new resolution, the Fourth Division noted that while the OSG informed the court last Aug. 4 that a “substantial draft” of the petition has already been completed, “still the OSG has not filed anything with the Sandiganbayan.”

“That it did not do so after almost eight years is telling,” the Fourth Division said.

“Ultimately, the OSG has to face the consequences of its failure not only to question the 2018 dismissal which lapsed into finality, but also failed to file the necessary petition despite being directed to do so,” it added.

Filed by the ombudsman on Aug. 17, 2011, the dismissed petition sought the forfeiture in favor of the government a total of $5,193,726.37 Swiss bank deposits held in escrow at the PNB since 1999.

The amount allegedly forms part of the couple’s unexplained wealth during the late Romualdez’s term as governor of Leyte and as ambassador to China, Saudi Arabia and Washington.