Former House speaker and presidential cousin Martin Romualdez transferred a Massachusetts property worth $2.24-million or P130.5 million to a fraternity brother’s corporation for just $1.
Full story: https://www.rappler.com/newsbreak/investigative/martin-romualdez-us-property-transfer-corporation-ties/
00:00Former House Speaker and Presidential Cousin Martin Romualdez transferred a Massachusetts property worth $2.24 million or $130.5 million to a fraternity brothers corporation for just $1.
00:14U.S. government records list the 2.5-hectare estate in Dover, Massachusetts, under the full name of the House Speaker since 1988.
00:22On July 1, 2025, Romualdez signed the quitclaim deed transferring ownership to a corporation named AMMY Incorporated for only $1.
00:31Delaware state records show the company was formed as a foreign corporation only on June 20, 2024, with a certain Andrew Casino listed as president.
00:40Casino, a fraternity brother of Romualdez in Upsilon Sigma Phi, sits on the board of directors of Benguet Corporation owned by the Romualdez family.
00:48U.S.-based realtors and lawyers say a quitclaim deed is not unusual as it is a legal means of transferring property.
00:55But what makes Romualdez's transaction stand out is a multi-million dollar estate being turned over to a corporation for practically no payment at all.
01:04A U.S.-based lawyer tells Rappler the transaction could count as a, quote,
01:07fraudulent conveyance because it may be used to hide assets from creditors.
01:12Rappler reached out to Romualdez and Casino via various channels for comment and has yet to receive a response.
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