MANILA, Philippines – An employee of the Bank of the Philippine Islands (BPI) was suspended following investigation for possible involvement in the Wirecard scandal.
In a disclosure to the Philippine Stock Exchange on Monday, June 22, BPI said it is probing falsified documents which showed that Wirecard is supposedly a client of the bank.
BPI said Ernst & Young, Wirecard's auditor, showed documents which claimed that the German firm was a client.
"The employee who may have played a part in the preparation of the said document has been suspended and is under investigation," BPI said.
BDO Unibank earlier denied that Wirecard is a client, adding that documents showing otherwise had falsified signatures of officers.
International media outlets earlier reported that Wirecard was missing some $2.1 billion.
Reports also noted that the firm inflated revenues through forged and backdated contracts.
On Monday, auditors concluded that the missing funds likely "do not exist," fueling fraud suspicions.