Camille Naredo

Logo of the Securities and Exchange Commission (SEC)  in this photo taken on June 22, 2023.

Logo of the Securities and Exchange Commission (SEC)  in this photo taken on June 22, 2023. Jonathan Cellona, ABS-CBN News

Article (news)

SEC ANNIVERSARY

ABS-CBN News

MANILA -- The Securities and Exchange Commission on Saturday said it has filed a criminal complaint against Villar Land Holdings Corp and its officers for market manipulation, insider trading and misleading disclosures.In a statement, the SEC said the alleged violations &quot;distorted the company&#x27;s share prices and misled the investing public.&quot;In the complaint filed at the Department of Justice on January 30, the SEC charged Villar Land (formerly Golden MV Holdings Inc) with violations of Section 24.1(d) and Section 26.3 ofRepublic Act No. 8799, or the Securities Regulation Code (SRC) &quot;for making false or misleading statements and engaging in acts that operated as fraud or deceit upon investors.&quot;Meanwhile, among those named as respondents are: Villar Land chairperson Manuel Villar, former senator Cynthia Villar, directors Cynthia Javarez, Manuel Paolo Villar, Camille Villar and Mark Villar, as well as independent directors Ana Marie Pagsibigan and Garth Castañeda.Villar Land, in its public disclosure of its 2024 financial statements, reported a substantial increase in total assets to P1.33 trillion, the SEC said. It also likewise reported a net income of P999.72 billion from just P1.46 billion the previous year, which the company attributed to a revaluation of its real estate holdings, it added.The SEC said these figures were reported prior to the completion of external audit.In the audited financial statements which were later submitted, Villar Land&#x27;s total reported assets were at P35.7 billion only, &quot;significantly lower&quot; compared to the earlier amount disclosed.The SEC said that the related entities in the complaint allegedly engaged in &quot;trading activities that created artificial demand and supported the price of Villar Land shares.&quot;The SEC also alleged that Camille Villar engaged in insider trading when she purchased 73,600 shares of the company in December 2017, &quot;shortly before the release of a corporate disclosure that resulted in an increase in the company&#x27;s share price.&quot;The commission also cited regulatory findings involving Villar Land&#x27;s property appraiser, E-Value Phils Inc, whose accreditation was revoked and was imposed a fine of P1 million due to unreliable valuation reports. &quot;Building investor confidence in the Philippines is crucial in driving the inclusive and sustainable growth of our capital market and business sector for national development,&quot; SEC Chairperson Francis Lim said.&quot;In this light, the SEC is firm in addressing fraudulent and manipulative acts that mislead the investing public and distort our capital markets. The Commission likewise enjoins publicly listed companies to uphold the highest standards of good corporate governance to help strengthen and sustain investor confidence badly needed by our capital markets,&quot; he added.In a separate statement, the Villar-led group said it would answer the allegations lodged by the SEC.&quot;Villar Land and its directors will answer all the allegations leveled against them after formal receipt of the alleged complaint,&quot; it said.

The Securities and Exchange Commission on Saturday said it has filed a criminal complaint against Villar Land Holdings Corp and its officers for market manipulation, insider trading and misleading disclosures.

The Securities and Exchange Commission on Saturday said it has filed a criminal complaint against Villar Land Holdings Corp and its officers for market manipulation, insider trading and misleading disclosures.

SEC files criminal complaint vs Villar Land for market manipulation, insider trading; Villar Land says 'to answer all allegations'

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SEC files criminal complaint vs Villar Land for market manipulation, insider trading; Villar Land says 'to answer all allegations'

ABS-CBN News

Published January 31, 2026 03:54 PM PHT

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Updated January 31, 2026 06:30 PM PHT

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Villar Land

Securities and Exchange Commission

SEC

market manipulation

insider trading

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