Manny Villar, businessman and former Senate President, has strongly denied the alleged illegal activities linked to him and Villar Land Holdings Corp. following a complaint filed by the Securities and Exchange Commission (SEC). According to Villar, he did not take any steps to deceive the public or investors.
On January 30, the SEC filed a criminal complaint against Villar Land and several of its officials over allegations of market manipulation, misleading disclosures, and insider trading. Among those named in the complaint are several members of the Villar family, who have vehemently denied the accusations.
Villar explained that to date, he has not received an official copy of the complaint, but he insisted that his company strictly adheres to good corporate governance. He said strong governance standards are essential to maintain investor confidence and long-term business growth.
The tycoon also emphasized that from his humble beginnings in Divisoria to leading large businesses, he has never been involved in deceiving customers or investors. He added that they are fully cooperating with any investigation by the authorities.
Finally, Villar assured that they will respond to all allegations in the proper forum and respect due process. According to him, they remain confident that justice will prevail and their names will be cleared of the allegations that he said are without sufficient basis.
