Ombudsman Investigates Jose Raulito Paras in Connection to Martin Romualdez Properties

The Office of the Ombudsman has identified Jose Raulito Paras as involved in corporate structures connected to interests of former House speaker Martin Romualdez, according to an affidavit submitted to the Sandiganbayan. The affidavit supports a request for a precautionary hold departure order and focuses on a South Forbes Park mansion purchased in 2023.

The investigation centers on alleged money laundering. Paras, a lawyer, obtained his undergraduate degree from the University of the Philippines in 1993 and his law degree from San Beda University in 1997. He placed fifth in the 1997 Bar Exams. His career includes positions at the Ponce Enrile Cayetano Reyes & Manalastas law firm starting in 1997, legal manager roles at Lepanto Consolidated Mining Company and Manila Mining Corporation in 2000, and founding Quial Gines Paras & Beltran in 2003 and Padernal & Paras Law Offices in 2004.

Corporate Roles Paras served as legal consultant in the Office of the Vice President from 2004 to 2010. He held the position of treasurer in Media Serbisyo Production Corporation, a broadcasting joint venture with ABS-CBN launched in 2023, which is owned by Romualdez. Paras also served on the board of Benguet Corporation from August 2018 until resigning in August 2023, citing personal reasons and commitments, according to Philippine Stock Exchange disclosures.

Paras is listed as the sole director and incorporator of Braavos Holdings, which is connected to CECIL PROPERTY PTE LTD, a Singapore-registered firm that acquired a 2,019-square-meter residence in Sotogrande, Spain, in January 2024. The property is valued between 6.5 million and 6.9 million euros.

Braavos shares the same office address as Paras' law firm.

is an officer of Eight-8-Ate Holdings, majority owned by Crystal Jacinto, wife of Malaysian businessman Jaya Sudhir. Johnathan Sudhir, their son, is a shareholder in CECIL PROPERTY PTE LTD. Both Jacinto and Jaya Sudhir have associations with Romualdez.

In the Philippines, Golden Pheasant Holdings Corporation, where Paras is president and 99.9% shareholder, purchased a 3,196-square-meter house and lot in South Forbes Park, Makati, for 1.665 billion pesos in 2023, according to its October 2025 General Information Sheet filed with the Securities and Exchange Commission.

The Office of the Ombudsman stated in a Sandiganbayan filing that there is a disparity between the property's value and Paras' financial capacity, based on Bureau of Internal Revenue records. The affidavit notes that manager’s checks used for the purchase were from an entity that transferred funds to Romualdez’s Golden Pheasant and to Paras on separate occasions.

The Ombudsman linked this to Paras' relationship with Romualdez.

Romualdez are members of the Upsilon Sigma Phi fraternity at the University of the Philippines, with Paras joining in 1990 and Romualdez in 1985. Their memberships overlapped until Romualdez completed law school in 1992. In July 2025, Romualdez transferred a 2.5-hectare estate in Dover, Massachusetts, valued at 2.24 million dollars, to AMMY INC.

for 1 dollar. Andrew Casiño, listed as the corporation’s director, is Romualdez’s fraternity brother and sits on the board of Benguet Corporation. The property is located about 32 kilometers from an unspecified point. Rappler sought comments from Paras and Romualdez on April 22, 2026.

Paras' secretary confirmed receipt but stated he was out of the country. Messages to Romualdez were not viewed as of that evening. The story will be updated upon response. The South Forbes Park property was referenced in a January 2026 Senate hearing and previously reported by Rappler.