SINCE THE SECURITIES and Exchange Commission formally filed last Friday its criminal complaint against Villar Land Holdings Corp., its board and allied firms with the Department of Justice, the once untouchable political dynasty and Forbes richest man from the Philippines is losing its luster in the stock market, bleeding nearly $1billion from its networth.
The SEC complaint involved insider trading, misleading disclosures and market manipulation.
The stocks tumbled 25 percent on Monday after trading resumed for a one-hour suspension imposed by the Philippine Stock Exchange, Vn News quoted Forbes.
ON ITS WAY DOWN
Previously ranked as the richest individual by Forbes 2025 the list released last April had a net worth of $17.2 billion, the tycoon is now in fourth place with $3.4 billion as of February 2, 2026, reported Vn News of Vietnam.
Villar’s flagship company is said to have misled investors by declaring total assets of P1.33 trillion (US$22.6-B) in its 2024 financial statement before an external audit was completed, after which the figure was revised to $35.7 billion, Bloomberg reported.
Another family company, Infra Holdings owned by Manuel Paolo carried out trades that created artificial demand that helped support Villar Land shares, Vn News added.
CLEARED SOON?
Villar told Bilyonaryo that he is confident that he, his family and their companies will be fully exonerated from allegations of insider trading and stock price manipulation due to lack of merit citing decades-long track record of ethical business practices.
The SEC complaint against the Villars and their companies is now being reviewed by DoJ to determine whether a preliminary investigation is warranted.
He said his companies, including Villar Land, have consistently upheld the highest standards of corporate governance and complied with rules enforced by both the SEC and the PSE.
“All our businesses and officers understand that corporate good governance is essential for building trust among investors and fostering sustainable growth. In fact, we welcomed and fully cooperated when the SEC began its fact-finding investigation.”
BUSINESS JOURNEY
The former senate president also reflected on his personal journey, linking his business philosophy to lifelong values.
“In all my years as an entrepreneur, from the time I helped my mother sell shrimps and fish in Divisoria to leading one of the most successful businesses in the country, I have never engaged in illegal practices designed to defraud customers and investors, or unduly benefit myself or the companies I own,” Villar was quoted by Bilyonaryo.
He vowed to address the allegations in the proper forum, promising full cooperation with any impartial investigation.
“And, finally, I am confident that justice will prevail and I and my family and our companies will be exonerated of all these baseless charges.”
The case has drawn attention to one of the Philippines’ most prominent business families, with analysts noting that the outcome could have broader implications for investor confidence and corporate governance standards in the country.