SEC investigates Villar Land, company vows to cooperate

The Securities and Exchange Commission has started a fact-finding exercise into the allegations over the surge in valuation of the vast tracts of prime property owned by Villar Land Holdings corporation, and the company said it welcomes the probe.

- By JAMES A. LOYOLA

In a media interview, SEC Chairman Francis Lim said, “We're examining it. We're paying attention to the details before we come up with a decision one way or the other...there are many details. We cannot make judgments before investigating the facts.”

“These are technical issues. Fortunately, I've been teaching securities regulation course for a number of years. So, I know the refinements of the law. What I don't want to happen is for the SEC to act hastily, but, at the end of the day, we committed a mistake.