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German firm's missing money did not enter Philippines: central bank

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ABS-CBN News

MANILA - Some $2.1 billion missing money of German firm Wirecard did not enter the Philippine financial system, the central bank said Sunday.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/19/20/wirecard-slumps-40-percent-as-search-for-missing-billions-turns-to-philippines">Wirecard slumps 40 percent as search for missing billions turns to Philippines</a></li></ul>The money allegedly went through the country&#x27;s two biggest banks BDO and BPI, which they earlier denied.The Bangko Sentral ng Pilipinas said it found in its investigation that &quot;no money entered the Philippines and that there is no loss to both banks.&quot; &quot;Both BDO and BPI state that the financial technology firm Wirecard was not a client nor did they have any business relationship with the German firm,&quot; BSP Governor Benjamin Diokno said in a statement.Both banks had also informed external auditor Ernst &amp; Young that &quot;the documents that attested to the presence of the supposed funds were &quot;spurious,&quot; he added.The fintech firm&#x27;s 4 board members have been under investigation since early June by Munich prosecutors for &quot;market manipulation,&quot; and Wirecard&#x27;s headquarters were searched as part of the probe.The scandal deepened on Thursday when the firm was forced to delay the publication of its 2019 results for a fourth time, prompting its CEO to quit the next day.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/19/20/ceo-of-scandal-hit-wirecard-resigns">CEO of scandal-hit Wirecard resigns</a></li></ul><div>--With reports from Agence France-Presse</div>

Some $2.1 billion missing money of German firm Wirecard did not enter the Philippine financial system, the central bank said Sunday.

Some $2.1 billion missing money of German firm Wirecard did not enter the Philippine financial system, the central bank said Sunday.