MANILA — As the Securities and Exchange Commission filed a complaint against Villar Land Holdings Corp. and its officers on Tuesday, businessman and former Senate President Manny Villar claimed he had never participated in any actions to deceive the public.

On January 30, the SEC filed a criminal complaint alleging market manipulation, false disclosures, and insider trading against Villar Land and its personnel, including former senator Cynthia Villar, Manuel Paolo Villar, and senators Camille and Mark Villar.

The case was based on claims of insider trading when Camille Villar purchased thousands of shares prior to the publication of a crucial revelation, as well as alleged inflated asset valuation in the company’s unaudited financial statement.

Villar said in a statement that he has not yet received a copy of the complaint. Nonetheless, he maintained that the real estate company “has consistently upheld standards of good corporate governance.”

He added that Villar Land is dedicated to openness and compliance. “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,” he said.

He said, “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,”

The public was given the tycoon’s word that they will address any accusations and work with the appropriate party.

“We will fully cooperate with an impartial investigation that fosters due process, protects the public’s welfare, and ferrets out the truth,” Villar stated.

The Department of Justice stated on Monday that it was still reviewing the SEC’s case against Villar Land and its officials.