Philippine Billionaire Manuel Villar Rejects Insider Trading, Market Manipulation Allegations

The Securities and Exchange Comission alleged Manuel Villar, along with his flagship company, Villar Land, and its directors committed fraud when it released financial statements in March 2025 that inflated its 2024 net profit to $17 billion. This was due to a massive property revaluation gain that was later disapproved by its external auditor.