DOJ orders Villar Land owners, execs to appear in next case hearing

March 17, 2026 | 12:00am

MANILA, Philippines — The Department of Justice (DOJ) has called on the executives and officials of Villar Land Holdings Corp. and related entities to show up in the next schedule of initial hearings for the cases filed by the Securities and Exchange Commission (SEC).

Only the lawyers of Villar Land chairperson and former senator Manny Villar, former senator Cynthia Villar; directors Cynthia Javarez, Manuel Paolo Villar, senators Camille Villar and Mark Villar, Manny’s brother Virgilio, and related entities Infra Holdings and MGS Construction were present during the preliminary investigation by the DOJ panel of prosecutors yesterday.

The SEC found the respondents liable for violating certain provisions in the Securities Regulation Code “for making false or misleading statements and engaging in acts that operated as fraud or deceit upon investors,” according to earlier reports.

In particular, it alleged that Villar Land’s public disclosure to investors of P1.33 trillion worth of total assets was made before the firm’s external audit was completed.

It also alleged that Infra Holdings – owned by Virgilio – and MGS Construction engaged in trading activities that created artificial demand and supported the prices of Villar Land shares, said earlier reports.

Only one of the respondents, Garth Castañeda, filed his counter-affidavit during the preliminary investigation.

Meanwhile, Javarez filed her motion to recall the subpoena against her, suspend the hearing and refer the complaint to the SEC to determine probable cause behind it. The other respondents joined Javarez in her omnibus motion.

However, Senior Deputy State Prosecutor Peter Ong, who led the hearing, disagreed with the respondents’ omnibus motion, which he said was already like asking the DOJ panel to dismiss the hearing.

He declared, “When they (SEC) filed this complaint, they have determined probable cause.” He added their omnibus motion could also be considered their counter-affidavit already.

Lawyers of the respondents then told the DOJ panel they would file their counter-affidavits on top of the omnibus motion.

Ong then directed the respondents to submit their counter-affidavits, and the SEC to file their comment or opposition, on April 20, 2026 at 2 p.m.

He also ordered the lawyers to have their clients take oath and affirm their statements before the DOJ panel and not before any other notary public or prosecutor.