LEYTE Rep. Ferdinand Martin G. Romualdez on Wednesday firmly rejected allegations linking him to convicted fraudster Patrick Mahony, whose name has surfaced in connection with the Maharlika Investment Fund (MIF).
The controversy surfaced after a report by Sarawak Report, a Malaysia-based investigative news outlet, claimed that Mahony had been advising officials behind the MIF and was often spotted in Manila social circles alongside Romualdez.
Reports have suggested that Mahony attempted to establish ties with the MIF, but these claims have been denied by the fund’s investors and officials.
In a statement, Romualdez described the reports as ‘false and baseless,’ emphasizing that he has never engaged in any discussions or communications regarding investments or advisory roles related to the MIF.
‘I join the Maharlika Investment Corporation in completely denouncing the false and baseless allegations published by certain online sources. I have never had any discussion, meeting, or communication with any individual regarding investments, advisory roles, or management decisions involving the Maharlika Wealth Fund. The reports attempting to link me to such matters are entirely unfounded, misleading, and malicious,’ said Romualdez.
Mahony, a British-Swiss national, was convicted of siphoning over US$1.8 billion from the 1Malaysia Development Berhad (1MDB) fund and was sentenced to six years in prison for his role in the scandal.
The 1MDB scandal also led to the 2022 imprisonment of former Malaysian Prime Minister Najib Razak for the embezzlement of the state-owned 1MDB fund.
The Maharlika Investment Corporation, the fund’s managing entity, has also issued statements distancing itself from Mahony and refuting any allegations of misconduct.