00:00Former senator and billionaire Manny Villar and his family deny charges of insider trading,
00:06stock market manipulation, and other securities code violations.
00:09The Securities and Exchange Commission filed the charges against Villar and his family on
00:14January 30. Villar's children, Senators Mark and Camille with their brother Paulo,
00:18personally submit their counter-affidavits to the Department of Justice on Monday.
00:23Meanwhile, property tycoon Manny and wife Cynthia, both former senators,
00:26did not appear but are represented by their councils.
00:30They submit a verified motion and
00:31manifestation to dismiss the SEC complaint instead of a counter-affidavit.
00:36The SEC complaint centers on Villar land's public release of its 2024 financial statements.
00:41It reported a dramatic surge in total assets amounting to 1.33 trillion
00:46and a net income of nearly 1 trillion.
00:49These figures stunned the market and triggered sharp movements in the company's share price.
00:54The Villar patriarch is the Philippines' third-richest individual and the former
00:58Senate President and House Speaker. He said in February that Villar land has
01:03consistently upheld the highest standards of good corporate governance.
01:06I'm a judge by doing that for today'sæ—¥ and legal activities.
01:07With theof the
01:09the
Comments