Villars, Villar Land director request DOJ to suspend preliminary investigation on SEC complaint

The Villars and other respondents on Monday asked prosecutors of the Department of Justice to suspend the preliminary investigation on the complaint filed by the Securities and Exchange Commission (SEC) against them for alleged market manipulation, insider trading, and misleading disclosures.

During the preliminary hearing at the DOJ, respondent and Villar Land director Cynthia Javarez, through her counsel, filed an omnibus motion to recall the subpoena, suspend the proceedings, and return the complaint to the SEC.

Senior State Prosecutor Peter Ong said all the respondents adopted the motion, including Villar Land chairperson and former senator Manuel Villar Jr.; former senator Cynthia Villar; directors Cynthia Javarez, Manuel Paolo Villar, Senator Camille Villar, and Senator Mark Villar.

“Hinihingi nila na ma-suspend ‘yung aming PI, preliminary investigation, ma-recall ‘yung subpoena, ibalik sa SEC ‘yung kaso,” Senior State Prosecutor Peter Ong said in an ambush interview.

(They are asking for the suspension of the PI, preliminary investigation, to recall the subpoena, and to return the complaint to the SEC.)

Ong said that Javarez argued the SEC did not find probable cause to file a complaint against them.

“But I said, under the 2023 ruling ng Tengco vs. people, wala naman specific format na nire-require ang batas,” Ong said.

(But I said that under the 2023 ruling of Tengco vs. people, there’s no specific format required by the law.)

During the hearing, Ong told the respondents that the motion would be treated as a motion to dismiss. Due to this, it would be considered their counter-affidavit.

However, the respondents manifested that they would file separate counter-affidavits.

After this, the respondents’ counsels requested an extension for the deadline to submit their counter-affidavits.

The DOJ panel of prosecutors granted the request and gave them until April 20.

“Ang tama ng 15 days, I think, is Holy Monday or Holy Tuesday. Sabi ko, sigurado ba kayo diyan? Sa kapal baka humingi ulit kayo ng extension… Sabi ko, sige, April 20. We gave them time, enough time to prepare,” Ong said.

(The 15 days will end up on Holy Monday or Holy Tuesday. I told them, are you sure about that? With the thickness of the document, you might ask for another extension. I said, okay, submit it on April 20. We gave them time, enough time to prepare.)

According to Ong, only Garth Castañeda, Villar Land independent director, filed his counter-affidavit.

For his part, Ong urged the respondents to personally file their counter-affidavits with the DOJ.

“’Yun lang po ang request namin. Respondents, please come here. We don’t want you to subscribe before any prosecutor or before any notary public. Gusto namin maniguro na hindi peke ‘yan,” Ong said.

(That’s our only request. Respondents, please come here. We don’t want you to subscribe before any prosecutor or before any notary public. We want to ensure that the counter-affidavit is not fake.)

“Nagkakaroon po kasi, in the past, nagkakasuhan ang piskal sa piskal, bakit niyo pinakialaman ‘yung kaso ko… We don’t want that situation. Please, dito na lang kayo manumpa, ha?” he added.

(In the past, prosecutors filed cases against each other for intervening. We don’t want that situation. Please, subscribe and swear before us.) 

He also appealed to the respondents not to file their counter-affidavits earlier than April 20. –NB, GMA Integrated News