Members of the Villar family appeared before the Department of Justice on Monday to submit counter-affidavits in response to the Securities and Exchange Commission complaint against Villar Land Holdings Corp. over alleged market manipulation, fraud, and misleading disclosures.
Senators Mark Villar and Camille Villar, along with Manuel Paolo Villar, denied wrongdoing and said they acted in good faith, while other family members submitted legal documents without appearing in person.
The SEC alleges the company violated the Securities Regulation Code by releasing false information that affected share prices.
The preliminary investigation continues, with prosecutors set to hold further clarificatory hearings in the coming sessions.
The Villar camp maintains that all accusations are baseless and aimed at clearing their names and the company’s reputation.
Source: PhilNews24 | April 21, 2026
