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Manila Bulletin devider Philippines devider National devider 'False, baseless': Romualdez denies meetings with Mahony

'False, baseless': Romualdez denies meetings with Mahony

Published Oct 22, 2025 12:28 pm

At A Glance

  • Leyte 1st district Rep. Martin Romualdez has denied reports linking him to "any discussion, meeting, or communication with any individual" that have to do with the Maharlika Wealth Fund (MWF).
Leyte 1st district Rep. Martin Romualdez (PPAB)
Leyte 1st district Rep. Martin Romualdez (PPAB)


Leyte 1st district Rep. Martin Romualdez has denied reports linking him to "any discussion, meeting, or communication with any individual" that have to do with the Maharlika Wealth Fund (MWF).
"I join the Maharlika Investment Corporation (MIC) in completely denouncing the false and baseless allegations published by certain online sources," Romualdez, who resigned as House Speaker last September, said in a short statement on Tuesday night, Oct. 21.
The Lakas-Christian Muslim Democrats (Lakas-CMD) president was apparently alluding to a Sarawak Report article that had since been picked up by Philippine news sites.
In the article, it was alleged that prominent Filipino businessmen and Romualdez have been meeting with British-Swiss financier Patrick Mahony—one of the key players in the notorious Malaysia 1MDB corruption scandal almost 10 years ago.
The veteran lawmaker didn’t mention Mahony by name.
Sarawak Report claimed that Mahony--who received a six-year sentence for his part in the 1MDB mess--had taken on an advisory role in the MWF, also known as the Maharlika Investment Fund (MIF).
Established under President Marcos in 2023, the MWF is the Philippines' first ever sovereign wealth fund.
"I have never had any discussion, meeting, or communication with any individual regarding investments, advisory roles, or management decisions involving the [MWF]. The reports attempting to link me to such matters are entirely unfounded, misleading and malicious," said Romualdez, cousin of the President.
Described as “one of the world’s greatest financial scandals”, the 2016 1MDB scandal was a corruption, bribery and money laundering conspiracy wherein the Malaysian sovereign wealth fund (1MDB) was systematically embezzled, with assets diverted globally by the perpetrators of the scheme.
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