How Samuel Martinez's assets expanded during the Ombudsman era

Samuel Martinez, who served as Ombudsman for six years, experienced a dramatic increase in net worth from his tenure start to end. His assets grew from 57,064,806 pesos in 2018 to 78,192,000 pesos in 2024, an increase of over 21 million pesos within just six years. These figures are disclosed in his Statement of Assets, Liabilities, and Net Worth (SALN).

Financial Assets as the Driving Force—Accumulation of Cash and Investments

The rapid growth of Martinez’s net worth was primarily supported by liquid assets such as bank deposits, bonds, and mutual funds. His pension and retirement benefits, earned from his career as a former judge, are believed to have bolstered these cash investments.

Specifically, his cash holdings increased from 31,918,806 pesos in 2018 to 48,300,000 pesos in 2024. This roughly 16 million peso increase represents the highest rate of asset growth during the period.

There was also steady growth in stock investments. The valuation of corporate shares held by Martinez was 20 million pesos from 2018 to 2021, rising to 23.5 million pesos between 2022 and 2024.

Additionally, foreign currency assets, which he began declaring in 2019, reached 370,000 pesos (approximately $7,000) in 2024.

Real Estate and Unusual Asset Composition

Meanwhile, Martinez’s real estate holdings remained relatively unchanged over time, totaling 1.55 million pesos from 2018 to the present.

His real estate portfolio consists of six properties scattered across Quezon City, Rizal Province, Northern Samar, Samar Province, and Baguio City. Based on acquisition costs, the property in Quezon City is considered the most valuable.

Notably, he declared three inherited properties—two inherited in 1961 and one in 2005—which are excluded from SALN calculations due to rules that inheritance assets are not required to be declared at acquisition cost.

Personal Property: Firearms and Decorations

His personal assets include jewelry, cash, vehicles, and even paintings, with cash assets comprising the largest portion.

Interestingly, like former President Duterte, Martinez was interested in collecting firearms. He began declaring guns in his SALN starting in 2020, with a recorded value of 350,000 pesos from 2020 to 2024.

Since SALN only reports the total acquisition cost of assets, details such as individual firearm costs and exact quantities are not publicly disclosed.

No Declarations of Business Interests or Financial Connections

Martinez did not declare any business profits or financial relationships. He also reported zero liabilities.

Regarding government-related family members, only his son, Joseph Angelo Martinez, was declared. The 2018 SALN listed him as the Chief Executive Assistant at the Office of the Ombudsman, a position he held until 2021. Subsequently, Joseph Angelo was appointed as Undersecretary at the Department of Agrarian Reform (DAR), and in 2024, he was promoted to Deputy Minister.

Restricted Access to Information and Controversy

During his term as Ombudsman, Martinez implemented measures to restrict access to SALN through Memorandum Series No. 1 of 2020. This action sparked significant debate.

SALNs under the Ombudsman’s custody include declarations from the President, Vice President, and heads of constitutional agencies, which are essential documents for monitoring public officials’ assets. Martinez’s restrictions kept SALNs of himself and former President Duterte confidential for several years. This situation persisted until his successor, Jesse Crispin “Boying” Remulla, reopened access.

Furthermore, in 2021, Martinez called for the imposition of “strict penalties,” including five years of imprisonment, for anyone who comments on SALN. The Ombudsman’s lifestyle checks (asset investigations) have also been halted since he took office in July 2018.

Career and Judicial Controversies

Before becoming Ombudsman, Martinez held multiple judicial positions. He served as a judge at the 32nd Branch of the Agusan del Sur Regional Trial Court and later as a judge in Sandiganbayan.

He was involved in controversial decisions at the Sandiganbayan, including supporting the plea bargain of retired military accountant General Carlos Garcia, and reporting on decisions that acquitted Ferdinand E. Marcos, Ferdinand Bell, and businessman Roberto Ongpin in the Banco Central fraud case.

Martinez has close ties to former President Duterte, having been the first appointee of Duterte to the Supreme Court in March 2017. His subsequent appointment as Ombudsman is seen as an extension of this relationship.

—Rappler.com