Ombudsman Investigates Jose Raulito Paras in Connection to Martin Romualdez Properties

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.