Business & Finance

Reuters exclusively reports Filipino lawyer linked to Wirecard fraud says he was framed

Reuters reported exclusively that a Filipino lawyer embroiled in a multi-billion dollar fraud at Wirecard, Mark Tolentino, said he was surprised to be linked to the German payments firm and that he was the “victim of a frame-up.” In an interview with Reuters, Tolentino said he opened six bank accounts for a Singapore-based firm but did not know until the scandal broke that they were for Wirecard. Wirecard went bankrupt last week after disclosing that $2.1 billion of cash supposed to be in bank accounts in the Philippines probably didn’t exist. The revelation led to the arrest of its former chief executive and has triggered probes in Germany, Brussels and the Philippines as investigators try to determine what happened.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: AsiaEurope
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text