The anti-graft court’s third division has denied the request of Romualdez, through his lawyer Enrico Fernando, to stop the trial and conduct a preliminary investigation into the case, which he said violated his "substantive right" to due process.
As per his December 1973 statement of assets and liabilities, Romualdez claimed to have only a net worth of P758,294 since he had total assets of P825,439 (house and lot, personal properties, vehicles, equipment, investment in stocks) and P67,144 in liabilities. His total family income reached only P28,700 then.
The Presidential Commission on Good Government said that from 1970 to 1986, he held the ranks of Navy lieutenant to commodore and became at one time a defense attaché in Washington.
But the PCCG said he could not have acquired his properties which it estimated to be worth P500 million. — Delon Porcalla