Villar Land Holdings Group is facing a slew of legal charges, including insider trading and market manipulation, after the Securities and Exchange Commission (SEC) filed criminal complaints against one of the country’s most politically powerful and wealthiest families.
The SEC said it filed criminal charges on Friday, January 30, against Villar Land—formerly Golden MV Holdings Inc.—for violating provisions of the Securities Regulation Code that prohibit false or misleading statements and other fraudulent acts in connection with securities transactions.
Among those named is former Senate President Manuel B. Villar Jr., chairman of Villar Land. Also cited were his wife, former Senator Cynthia A. Villar; their children Mark A. Villar and Camille A. Villar, both incumbent senators; several other directors; and two independent directors.
The SEC likewise charged related firms Infra Holdings Corp. and MGS Construction, and their officers, for alleged price manipulation under the SRC.
At the center of the case is Villar Land’s 2024 disclosure reporting total assets of P1.33 trillion and net income of P999.72 billion—up sharply from P1.46 billion a year earlier—largely due to a revaluation of real estate assets. Regulators said these figures were released before the completion of an external audit. When audited statements were later submitted, total assets plunged to P35.7 billion, triggering a sharp collapse in the company’s share price.
The complaint also alleged that Infra Holdings and MGS Construction engaged in coordinated trading to create artificial demand and support Villar Land’s share price. Infra Holdings is owned by Virgilio B. Villar, the brother of Manuel Villar Jr. Camille A. Villar was separately accused of insider trading for purchasing shares shortly before a price-moving disclosure..
“Market distortion erodes trust and harms ordinary investors,” SEC Chairperson Francis Lim said. “We will not hesitate to act against conduct that undermines fair, orderly, and transparent markets.”
Lim added that tough enforcement is key to restoring investor confidence and protecting the integrity of the capital market.
