Jamaine Punzalan

Article (news)

ABS-CBN News

MANILA — The Department of Justice said Monday a criminal <a href="https://www.abs-cbn.com/news/business/2026/1/31/sec-files-criminal-complaint-vs-villar-land-villar-land-says-to-answer-all-allegations-1554">complaint</a> filed by the Securities and Exchange Commission against Villar Land Holdings Corp was undergoing evaluation, while the company asserted that its officials were “entitled to due process.” The Securities and Exchange Commission over the weekend said it filed a criminal complaint against the firm due to alleged market manipulation, misleading disclosures, and insider trading.“Remember that when cases are filed here, it is not immediately for preliminary investigation,” Prosecutor General Richard Anthony Fadullon said.“Yes, there are ongoing evaluations but as far as the department is concerned, no pronouncements can be made just yet because we do not want to pre-empt the results of the evaluation,” he said.  In a disclosure to the Philippine Stock Exchange, the Villar-led firm clarified that it has yet to receive a copy of the complaint. &quot;Thus, we are not aware of any other details on the matter except for what has been disclosed by the SEC in its press statement. In view of the foregoing, the Company cannot provide any further clarification or disclosure on the matter until we receive a copy of the complaint,&quot; Villar Land said. &quot;The Company and its directors are entitled to due process and look forward to receiving a copy of the complaint and responding to the allegations raised by the SEC in the proper form,&quot; it added.On Saturday, the SEC said the complaint stemmed from the company&#x27;s 2024 financial statement that reported a total of P1.33 trillion assets. However, in its audited report the total assets reached P35.7 billion only, which is significantly lower than the initial figure disclosed.The respondents named in the complaint included former senator and Villar Land Chairman Manuel Villar Jr, former senator Cynthia Villar, directors Cynthia Javarez, Manual Paolo Villar, Sen. Camille Villar, and Sen. Mark Villar. The SEC also alleged that Camille Villar purchased 73,600 shares prior to the disclosure that resulted in an increase in the company&#x27;s share price, a move that the agency cited as insider trading.Based on the SEC&#x27;s complaint, the company and its officials allegedly violated Section 24.1 (d) and Section 26.3 of the Securities Regulation Code for making false or misleading statements and engaging in acts that operated as fraud or deceit upon investors.<div>— With a report from Adrian Ayalin, ABS-CBN News</div><div> </div>

The Department of Justice said Monday a criminal complaint filed by the Securities and Exchange Commission against Villar Land Holdings Corp was undergoing evaluation, while the company asserted that its officials were “entitled to due process.”

The Department of Justice said Monday a criminal complaint filed by the Securities and Exchange Commission against Villar Land Holdings Corp was undergoing evaluation, while the company asserted that its officials were “entitled to due process.”

DOJ says SEC complaint vs Villar Land under review; firm says execs ‘entitled to due process’

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DOJ says SEC complaint vs Villar Land under review; firm says execs ‘entitled to due process’

ABS-CBN News

Published February 02, 2026 11:25 AM PHT

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