1 week ago
9
Upgrade to High-Speed Internet for only ₱1499/month!
Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.
Visit Suniway.ph to learn
Deputy State Prosecutor Peter Ong with officials from the Securities and Exchange Commission as they signed the complaint they filed against Villar Land Holdings Corp. on March 16, 2026 at the Department of Justice building in Manila..
Philstar.com / Ian Laqui
MANILA, Philippines — Members of the Villar family did not personally appear before the Department of Justice (DOJ) on Monday, March 16, in connection with a case alleging violations of the Securities Regulation Code.
The Villars and other respondents were represented by their lawyers during the preliminary investigation.
Counsel for respondent Cynthia Javarez asked prosecutors to allow the filing of an omnibus motion seeking the recall of the subpoena and the dismissal of the preliminary investigation. Lawyers for the other respondents joined the motion.
Senior Deputy Prosecutor Peter Ong said the motion would be treated as a counter-affidavit.
The respondents' lawyers also requested a 15-day extension to file their counter-affidavits. Prosecutors granted them until April 20 to submit their response.
SEC allegations. The commission accused Villar Land Holdings Corp.,The Securities and Exchange Commission (SEC) accused Villar Land Holdings Corp., formerly Golden MV Holdings Inc., of violating Sections 24.1(d) and 26.3 of Republic Act No. 8799, or the Securities Regulation Code.
According to the SEC complaint, the company allegedly made "false or misleading statements and engag[ed] in acts that operated as fraud or deceit upon investors."
The regulator said Villar Land released misleading information that distorted the company's share prices.
Respondents. Named are Javarez, former Sen. Manny Villar, former Sen. Cynthia Villar, Manuel Paolo Villar, Sen. Camille Villar, Sen. Mark Villar, Ana Marie Pagsibigan, Garth Castaneda, Jerry Navarrete, Joy Fernandez, Virgilio Villar and Josephine Bartolome.
Villar Land Holdings Corp., MGS Construction Inc. and Infra Holdings Corp. are also listed as respondent corporations.
Ong said the Villars and the other respondents were directed to personally appear before the DOJ on April 20 to take their oath when filing their counter-affidavits.
