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MarketScreener Homepage  >  Equities  >  Philippines Stock Exchange  >  BDO Unibank, Inc.    BDO   PHY077751022


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Philippines probes 57 persons of interest over Wirecard scandal

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09/11/2020 | 05:46am EDT
FILE PHOTO: The logo of Wirecard AG is pictured at its headquarters in Aschheim

Philippine authorities are investigating 57 foreign and local "persons of interest" potentially involved in a scandal at German payments firm Wirecard AG, an official at the country's anti-money laundering agency said on Friday.

The Southeast Asian nation became embroiled in the collapse of Wirecard in June, with the payments firm initially claiming it kept $2.1 billion(1.64 billion pounds) in two Philippine banks, which the central bank and the lenders denied.

The persons of interest were included in a report sent to the National Bureau of Investigation, Mel Georgie Racela, executive director of the Philippines' Anti-Money Laundering Council (AMLC), told a virtual news conference.

The list includes officers at Philippine lenders BDO Unibank Inc and Bank of the Philippine Islands believed to have forged documents to show Wirecard is a depositor, Racela said, adding that the banks were no longer part of the investigation.

In addition, immigration personnel who were said to have created fake entry and exit information on Wirecard's former chief operating officer are among the persons of interest, according to Racela. The Bureau of Immigration did not respond to a request for comment.

"After we coordinate, we will now build up the case and file the necessary case," Racela said, adding that not all the 57 would face criminal charges.

German lawmakers this month launched a parliamentary inquiry into the implosion of Wirecard, the country's biggest post-war corporate fraud.

The AMLC is working with German authorities as it pursues a case against foreigners, Racela said.

(Reporting by Neil Jerome Morales; Editing by Ed Davies)

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF THE PHILIPPINE ISLANDS 1.92% 74.4 End-of-day quote.-15.36%
BDO UNIBANK, INC. 1.31% 97 End-of-day quote.-38.61%
WIRECARD AG 2.36% 0.6109 Delayed Quote.-99.43%
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Sales 2020 184 B 3 792 M 3 792 M
Net income 2020 29 770 M 615 M 615 M
Net Debt 2020 - - -
P/E ratio 2020 15,5x
Yield 2020 1,39%
Capitalization 425 B 8 784 M 8 784 M
Capi. / Sales 2020 2,32x
Capi. / Sales 2021 2,16x
Nbr of Employees 38 510
Free-Float 32,2%
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Nestor V. Tan President, Chief Executive Officer & Director
Teresita T. Sy-Coson Chairman
Joseph A. Gotuaco Executive VP & Head- Central Operations Group
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