The Department of Justice (DOJ) has initiated a preliminary investigation into Villar Holdings Corp. and several members of the Villar family following a complaint filed by the Securities and Exchange Commission (SEC) for alleged violations of the Securities Regulation Code (Republic Act No. 8799).

Among those subpoenaed were Villar Land chairperson Manuel Villar Jr., former senator Cynthia Villar, director Manuel Paolo Villar, Mark Villar, Camille Villar, and other respondents.

DOJ Spokesperson Polo Martinez confirmed the development, stating, "After undergoing initial evaluation, the complaint lodged by the SEC against Villar Holdings Corp. et al. with the DOJ will proceed with preliminary investigation for alleged violations of the Securities Regulation Code. Subpoenas have been served upon the respondents.”

He emphasized that the process is part of due procedure. “The DOJ will determine if there is merit to the allegations by the SEC. Of course, as a matter of procedure, all respondents will be given an opportunity to present their defenses,” Martinez added.

The SEC complaint reportedly involves alleged lapses in disclosure and compliance requirements designed to protect investors and ensure transparency in the capital markets.

The DOJ’s preliminary investigation will determine whether sufficient grounds exist to file formal charges in court, underscoring the government’s push to enforce corporate accountability while upholding due process.