VISTA LAND and Lifescapes, Inc. (VLL) clarified on Tuesday that its chairman Manuel B. Villar, Jr. is not endorsing any cryptocurrency business.

In a statement of clarification sent to media yesterday, Mr. Villar warned the public against a “false social media posting” that claims he is endorsing a cryptocurrency program.

“I have never made any such endorsement nor have I engaged in the said bitcoin trading program. This is obviously a scam and I ask the public to protect themselves from such unscrupulous act,” he said.

Mr. Villar, the richest man in the Philippines who was previously a senator, has a net worth of $5.5 billion based on data from Forbes Magazine.

Aside from VLL, he is also chairman of listed firms Golden Bria Holdings, Inc.; Vistamalls, Inc.; and AllHome Corp.

Shares in the four firms at the stock exchange ended mixed on Tuesday: VLL was down 5 centavos or 0.66% to P7.48 each, Golden Bria lost P1.60 or 0.36% to P438.20 each, Vistamalls gained 4 centavos or 0.68% to P5.88 each, while AllHome inched up 2 centavos or 0.17% to P11.54 each. — Denise A. Valdez