The Securities and Exchange Commission (SEC) has officially initiated criminal proceedings against Villar Land Holdings Corp. (formerly Golden MV Holdings, Inc.), its affiliate entities, and its top-tier leadership. The complaint alleges a sophisticated scheme involving market manipulation, insider trading, and the dissemination of misleading disclosures designed to distort share prices and deceive the investing public.
The complaint, filed on January 30, asserts that Villar Land and its associated parties violated multiple provisions of Republic Act No. 8799, also known as the Securities Regulation Code (SRC).
The SEC’s investigation points to a systemic breach of market integrity, specifically citing:
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Section 24.1(d) & Section 26.3 (SRC): Engaging in acts of fraud and deceit, and making false or misleading statements to influence investor behavior.
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Section 24.1(b) (SRC): Alleged price manipulation and unfair trading practices involving related corporate entities.
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The SEC has named a prominent list of respondents, including high-ranking officers and directors of the conglomerate:
| Entity / Category | Named Respondents |
| Villar Land Leadership | Manuel B. Villar, Jr. (Chairperson), Cynthia A. Villar, Manuel Paolo A. Villar, Camille A. Villar, Mark A. Villar, Cynthia J. Javarez |
| Independent Directors | Ana Marie V. Pagsibigan, Garth F. Castañeda |
| Related Entities | Infra Holdings Corp. and MGS Construction |
| Affiliate Officers | Virgilio B. Villar, Josephine R. Bartolome, Jerry M. Navarrete, Joy J. Fernandez |
The SEC maintains that these deceptive practices created an artificial market environment, preventing investors from making informed decisions based on accurate financial data. This legal action underscores the Commission’s commitment to “full and fair disclosure” and the protection of the Philippine capital markets from predatory corporate behavior.
The case is now moving through the legal system as the SEC seeks to hold the respondents accountable for what it describes as a significant violation of public trust.
