BDO - BPI - Wirecard $2.1 Billion Fraud Case

Baofeng

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Quote from: Lorence.xD on October 01, 2020, 08:21:13 AM

Wala ding mangyayari kahit madawit sila, sabihin natin na naging daan sila or naging parte sila ng kaso. Patuloy lang ang operasyon nila, oo magbabayad sila ng malaking multa pero sa tagal na nila dito sa Financial industry ng Pinas. Just another day at work lang sa kanila yan.

Siguro makukumpara din natin to sa kaso ng JPMorgan na pinag bayad ng malaking multa pero walang nakasuhan.

https://www.cftc.gov/PressRoom/PressReleases/8260-20

Antayin na lang natin siguro ang imbestigasyon pero sa ganang akin eh dapat talaga may maparusahan dito.

Lorence.xD

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Wala ding mangyayari kahit madawit sila, sabihin natin na naging daan sila or naging parte sila ng kaso. Patuloy lang ang operasyon nila, oo magbabayad sila ng malaking multa pero sa tagal na nila dito sa Financial industry ng Pinas. Just another day at work lang sa kanila yan.

Baofeng

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Heto ang latest news: Philippine Central Bank Disqualifies Bankers Linked to Wirecard.

Quote

The Philippine central bank said it will ban from the industry former bank employees who allegedly falsified documents for German payments company Wirecard AG.

Bangko Sentral ng Pilipinas is adding the former bankers to a list of persons disqualified from becoming directors or officers at any supervised financial institution, it said in an email to Bloomberg on Wednesday.

So ngayon yan lang ang desisyon tungkol dun sa mga taong involved sa pamemeke ng mga dokumento. Dapat makasuhan tong mga to at makulong.

Bttzed03

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Case update:

Nabalitaan ng NBI na may namatay na kapangalan ng former executive ng Wirecard (Christopher Reinhard Bauer). Sa ngayon may sub-poena na ang mga ilang opisyal sa Paranaque para ma-verify kung siya ngayun. Si Mr. Bauer ay isa sa mga iniimbestigahan sa ongoing na kaso ng Wirecard.

NBI summons Parañaque execs for docs on 'death' of Wirecard exec

Casdinyard

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Quote from: Bttzed03 on June 28, 2020, 04:59:13 AM

His statements:

Quote

It seemed that all fingers were pointing to me to be the thief and manipulator of the missing money, I want to clear my name.

I am a victim of identity theft and fake news and frame up,

So here's what was revealed so far:

BPI fired their assistant manager for signing a fake certificate of deposit
BDO fired a marketing officer for faking a bank certificate
Mark Tolentino opened six euro bank accounts under his law firm (MKT Law) on behalf of a Singapore-based company called Citadelle Corporate. He also said the accounts never had more than a few hundred euros in them.

Damn, Wirecard would really have a hard time finding those huge amount of money. Imagine, fingers only points to a framed man yet the bank's personnel involved were simply fired by tampering and faking files in which it must be punishable by the law (most likely nakukulong for years onto decades depending on how worse is the case). I think it wasnt orchestrated nor manipulated by MKT Law as there are still less proofs to make a valid accusation. But what interest me the most is that the 2.1B doesn't reached the aforementioned banks and there would be a bigger and a much broader investigation required.

Bttzed03

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Ehem ehem!

Mark Tolentino says he's been framed Grin

He said he was not aware na para pala sa Wirecard yung pera under his custody.

His statements:

Quote

It seemed that all fingers were pointing to me to be the thief and manipulator of the missing money, I want to clear my name.

I am a victim of identity theft and fake news and frame up,

So here's what was revealed so far:

BPI fired their assistant manager for signing a fake certificate of deposit
BDO fired a marketing officer for faking a bank certificate
Mark Tolentino opened six euro bank accounts under his law firm (MKT Law) on behalf of a Singapore-based company called Citadelle Corporate. He also said the accounts never had more than a few hundred euros in them.

Aside from BSP, the DOJ has also joined in the investigation of this case.

- Full story

Based on the above developments, kaya sinabi ng bangko na walang pumasok sa kanilang foreign deposits na worth $2.1 billion in total ay dahil:
1. Yung mga accounts ay under Citadelle Corporate
2. Maliliit lang na amount ang nadeposito sa mga accounts na nabuksan

Lumalabas ngayon na si Wirecard pinaubaya niya yung pera kay Citadelle Corporate na siya naman naghanap ng isang pang trustee dito sa Pinas (Mark Tolentino).

Did Citadelle Corporate paid 2 bank employess to issue/sign fake documents or was it MKT law who orchestrated all of this?
Ewan ko pero hintayin natin updates from DOJ on this matter.

Theb

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Quote from: Hippocrypto on June 26, 2020, 05:50:51 PM

Quote from: Theb on June 26, 2020, 02:43:51 PM

~
Sa punto na ito na until now under investigation pa din yung kumpanya madami tayong makikita na baho or mga fraudulent activities nila involving big amounts of cash. Like what others have pointed earlier mukhang mabilis naman malilinis yung pangalan ng BDO at ng BPI dahil na din lahat ng kamay ay tumuturo sa Wirecard. Yung mga ganito kasing white collar crime involving big amounts of cash ay mahirap ng maitago lalong lalo na kapag ang lahat ng bagay ay dumadaan sa audit, they named BDO and BPI as clients of the company pero yung mga ganitong klaseng activity ng isang publicly listed company ay palaging dumadaan sa required disclosures ng Philippine Stock Exchange at wala kang makikitang mention ng Wirecard sa BDO at BPI.

Palagay ko mate, may malaking pangalan ang nasa likod ng ganitong panloloko kasi masyadong mahirap matukoy kung sino ang may pasimuno dito. Maraming involved sa kalakaran na ito, at hindi lang isa ang pwedeng managot kung sakali kaya kakailanganin ng mahabang imbestigasyon, upang ma determine kung saan napunta ang $2.1 billion fraud money. Hindi biro yan, maraming Pilipinong nabibiktima sa atin at kawawa ang ating ekonomiya sa ganyang pandarambong.

Madami kasing pwedeng involve na tao dito lalong lalo na kung yung CEO nila nag voluntarily step down, European Union Financial Authority has joined in to investigate the billions of Euros worth missing, and also several named banks who denies involvement with Wirecard. Yung ganitong klaseng stunt para ma-pull off obviously several people will be involve within and outside of their company. Pero yung mga makikita natin ngayon I can say na puro hugas kamay palang lahat yan until we can see damning evidence na will completely contradict ng lahat ng sinasabi nila. This is a white collar crime after all kaya madaming investigations na mangyayari from different bodies kaya I would expect na dadami din yung mga lilitaw na discoveries within a short period of time.

Hippocrypto

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Quote from: Theb on June 26, 2020, 02:43:51 PM

Mukhang dumadami na yung butas na nakikita sa Wirecard and it looks like it goes way back sa nangayaring anomalya involving two of our biggest banks.

Quote from: https://www.ft.com/content/a9deb987-df70-4a72-bd41-47ed8942e83b

EY failed to ask for Wirecard bank statements for 3 years

EY failed for more than three years to request crucial account information from a Singapore bank where Wirecard claimed it had up to €1bn in cash — a routine audit procedure that could have uncovered the vast fraud at the German payments group.

Sa punto na ito na until now under investigation pa din yung kumpanya madami tayong makikita na baho or mga fraudulent activities nila involving big amounts of cash. Like what others have pointed earlier mukhang mabilis naman malilinis yung pangalan ng BDO at ng BPI dahil na din lahat ng kamay ay tumuturo sa Wirecard. Yung mga ganito kasing white collar crime involving big amounts of cash ay mahirap ng maitago lalong lalo na kapag ang lahat ng bagay ay dumadaan sa audit, they named BDO and BPI as clients of the company pero yung mga ganitong klaseng activity ng isang publicly listed company ay palaging dumadaan sa required disclosures ng Philippine Stock Exchange at wala kang makikitang mention ng Wirecard sa BDO at BPI.

Palagay ko mate, may malaking pangalan ang nasa likod ng ganitong panloloko kasi masyadong mahirap matukoy kung sino ang may pasimuno dito. Maraming involved sa kalakaran na ito, at hindi lang isa ang pwedeng managot kung sakali kaya kakailanganin ng mahabang imbestigasyon, upang ma determine kung saan napunta ang $2.1 billion fraud money. Hindi biro yan, maraming Pilipinong nabibiktima sa atin at kawawa ang ating ekonomiya sa ganyang pandarambong.

Theb

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Mukhang dumadami na yung butas na nakikita sa Wirecard and it looks like it goes way back sa nangayaring anomalya involving two of our biggest banks.

Quote from: https://www.ft.com/content/a9deb987-df70-4a72-bd41-47ed8942e83b

EY failed to ask for Wirecard bank statements for 3 years

EY failed for more than three years to request crucial account information from a Singapore bank where Wirecard claimed it had up to €1bn in cash — a routine audit procedure that could have uncovered the vast fraud at the German payments group.

Sa punto na ito na until now under investigation pa din yung kumpanya madami tayong makikita na baho or mga fraudulent activities nila involving big amounts of cash. Like what others have pointed earlier mukhang mabilis naman malilinis yung pangalan ng BDO at ng BPI dahil na din lahat ng kamay ay tumuturo sa Wirecard. Yung mga ganito kasing white collar crime involving big amounts of cash ay mahirap ng maitago lalong lalo na kapag ang lahat ng bagay ay dumadaan sa audit, they named BDO and BPI as clients of the company pero yung mga ganitong klaseng activity ng isang publicly listed company ay palaging dumadaan sa required disclosures ng Philippine Stock Exchange at wala kang makikitang mention ng Wirecard sa BDO at BPI.

dothebeats

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So far, BDO and BPI remains to be not guilty sa mga nangyayari na kinasasangkutan ng kanilang mga kumpanya. No further developments regarding to the accusation na nagdidiin sa kanila. If BSP itself does not notice any huge foreign deposit dito sa Pinas, we can take their word for it, and if not, then may possibility na kasabwat ang tatlong kumpanya sa scam na ito which is far-fetched considering na malaking kahihiyan at kawalan ng investor confidence sa 2 giant banks pati na rin sa mismong BSP. Siyempre for Tolentino, the immediate response is to deny the accusations para madelay ang proceedings at makagawa ng next move. Well in any case, it's hard to really give comments as if sure na tayo lahat sa detalye, so magandang antabayanan ang proceedings nito.

Shimmiry

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Quote from: Bitcoinislife09 on June 25, 2020, 01:16:26 PM

Quote from: Shimmiry on June 23, 2020, 12:46:35 AM

Quote from: Bttzed03 on June 22, 2020, 11:32:44 PM

~

Balak ko pa naman sana magopen ng account sa banko pero parang nagdadalawang isip na ako dahil maraming post din sa facebook ang mga nasscam or nahahack ang kanilang mga account tapos meron pang mga ganitong cases ng fraud. Lalo kawawa yong mga nahahack ang saving account may nabasa ako sa facebook nahack ang savings account ang for sure hindi sigurado kung mababalik pa ba ang perang nanakaw sa account niya. Siguro sa ngayon masmagandang masstsick na muna sa mga trusted na wallet naten kaysa sa mga banko.

Dude chill ka lang lol. Sobrang layo ng relation of the case and its effect sa amount na meron ka sa account mo. The fraud case (as of now while they are still investigating further with the issue) only indicates na nadamay lang ang dalawang bangko sa nangyari. But then it wouldn't affect ang mga bank accounts ng mga tao and/or mga holdings nila. And yes, some where hacked especially sa BDO just for the reason that they are being fooled by certain attacks such as:

calls saying like "Maam need ko po account nyo sa BDO for verification sa new system natin."
mga ATM machines na iba pala ang reader (common)
and some click-baits online kung saan nilalagay pa nila info ng mga accounts nila.

As long as you are knowledgeable and staying alert, walang mangyayaring problema sa bank accounts mo.

Bitcoinislife09

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Quote from: Shimmiry on June 23, 2020, 12:46:35 AM

Quote from: Bttzed03 on June 22, 2020, 11:32:44 PM

As to Mark Tolentino's side, his camp/law firm (MKT law) denied any irregularities/fraudulent activity:

Quote from: https://www.gmanetwork.com/news/news/nation/743781/mark-tolentino-filipino-lawyer-tagged-in-wirecard-controversy-denies-irregularities/story/

All services rendered by MKT Law, including the opening and maintenance of Philippine deposit accounts for foreign clients, are above board and performed with utmost compliance with Philippine laws and regulations, Formal demands have been made today for BPI and BDO to confirm these accounts and to treat them with absolute confidentiality, as mandated in the Foreign Currency Deposit Act of the Philippines,

Interesting developments hehe. I'm thinking MKT Law tried to bypass bank protocols using methods like using different accounts. Waiting for BDO & BPI's response to the demands and I hope they also make it public.

I don't think they will open the information that points to the accounts whether totoo man na meron or wala, but then sana ipublic nila yung magiging investigation and its process kasi magiging part ito ng BDO and BPI history as their company have been used in the issue. Also, sinabi na ng mga banko na walang dumating na transaction from the foreign currency deposit in which I think would have a deeper investigation required if there was an inside man behind those banks or Mark Tolentino are just using it as his front.

Kindly indicated UPDATED NEWS in the title as well para atleast mabasa ng ibang users on how the issue is currently being handled.. Gonna watch this topic.

Balak ko pa naman sana magopen ng account sa banko pero parang nagdadalawang isip na ako dahil maraming post din sa facebook ang mga nasscam or nahahack ang kanilang mga account tapos meron pang mga ganitong cases ng fraud. Lalo kawawa yong mga nahahack ang saving account may nabasa ako sa facebook nahack ang savings account ang for sure hindi sigurado kung mababalik pa ba ang perang nanakaw sa account niya. Siguro sa ngayon masmagandang masstsick na muna sa mga trusted na wallet naten kaysa sa mga banko.

Shimmiry

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Quote from: Bttzed03 on June 22, 2020, 11:32:44 PM

As to Mark Tolentino's side, his camp/law firm (MKT law) denied any irregularities/fraudulent activity:

Quote from: https://www.gmanetwork.com/news/news/nation/743781/mark-tolentino-filipino-lawyer-tagged-in-wirecard-controversy-denies-irregularities/story/

All services rendered by MKT Law, including the opening and maintenance of Philippine deposit accounts for foreign clients, are above board and performed with utmost compliance with Philippine laws and regulations, Formal demands have been made today for BPI and BDO to confirm these accounts and to treat them with absolute confidentiality, as mandated in the Foreign Currency Deposit Act of the Philippines,

Interesting developments hehe. I'm thinking MKT Law tried to bypass bank protocols using methods like using different accounts. Waiting for BDO & BPI's response to the demands and I hope they also make it public.

I don't think they will open the information that points to the accounts whether totoo man na meron or wala, but then sana ipublic nila yung magiging investigation and its process kasi magiging part ito ng BDO and BPI history as their company have been used in the issue. Also, sinabi na ng mga banko na walang dumating na transaction from the foreign currency deposit in which I think would have a deeper investigation required if there was an inside man behind those banks or Mark Tolentino are just using it as his front.

Kindly indicated UPDATED NEWS in the title as well para atleast mabasa ng ibang users on how the issue is currently being handled.. Gonna watch this topic.

Bttzed03

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So I was finally able to read an article pointing to Mark Tolentino as the designated trustee of the $2.1 billion fund of Wirecard.

Quote from: https://www.trustnodes.com/2020/06/21/mark-tolentino-the-2-1-billion-wirecard-thief

According to a mainstream German daily, after being appointed as trustee in late 2019 Tolentino is said to have opened six accounts for Wirecard with the Bank of the Philippine Islands (BPI) and BDO Unibank.

Quote

He is said to have deposited 393.5 million euros for Wirecard UK & Ireland Ltd. For Wirecard Technology GmbH it was 400.5 million. 30 million for Wirecard AG, 20 million for Wirecard Sales International GmbH and finally almost 1.1 billion for the subsidiary Cardsystem Middle East FZ LLC. In total: 1.938 billion euros,[/i]

BPI and BDO also said that "the money never reached the Philippine financial system. If it had, they would have noticed it as it would amount to 5% of all foreign currency deposits."

The same was also said by the BSP chief:

Quote from: https://www.gmanetwork.com/news/money/companies/743531/bsp-chief-diokno-says-none-of-wirecard-s-missing-2-1-billion-entered-local-financial-system/story/

None of the missing $2.1 billion of German firm Wirecard entered the Philippine financial system,

The international financial scandal used the names of two of the country's biggest banks -- BDO and BPI -- in an attempt to cover the perpetrators attack,

As to Mark Tolentino's side, his camp/law firm (MKT law) denied any irregularities/fraudulent activity:

Quote from: https://www.gmanetwork.com/news/news/nation/743781/mark-tolentino-filipino-lawyer-tagged-in-wirecard-controversy-denies-irregularities/story/

All services rendered by MKT Law, including the opening and maintenance of Philippine deposit accounts for foreign clients, are above board and performed with utmost compliance with Philippine laws and regulations,

Formal demands have been made today for BPI and BDO to confirm these accounts and to treat them with absolute confidentiality, as mandated in the Foreign Currency Deposit Act of the Philippines,

Interesting developments hehe. I'm thinking MKT Law tried to bypass bank protocols using methods like using different accounts. Waiting for BDO & BPI's response to the demands and I hope they also make it public.

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Quote from: bL4nkcode on June 20, 2020, 02:54:19 PM

Worst is nag resigned ang CEO nila and effective immediately after ma disclosed na di mahanap ng auditors yung nawawalang funds na $2.1 B so si interim ang sasagot sa mga issues na yan.

And the worst outcome is that their stock price is going lower and lower now. I've seen yung recent na galaw ng kanilang stocks and they went down almost 50% mula nung pumutok ang issue. Imagine from 100EUROS now they're down to 24EUROS only for a week. Many are now panic selling their shares and investors are the ones whom are hugely affected by that issue. Hopefully their case would be soon closed and the missing 2.1B would be taken back to the company para bumalik na ang ganda ng market nila.

bL4nkcode

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Worst is nag resigned ang CEO nila and effective immediately after ma disclosed na di mahanap ng auditors yung nawawalang funds na $2.1 B so si interim ang sasagot sa mga issues na yan.

Quote from: Bttzed03 on June 20, 2020, 11:41:01 AM

CNN also reported na may sinibak na marketing officer sa BDO for allegedly fabricating a bank certificate.

Malaking kaso ito.

Talking about sa ganyang kalaking amount kahit sinong inoferan ng kahit 1% na share or lower pa is masisilaw talaga.

Bttzed03

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^ There's no evidence yet na compromised ang system ng bangko. Ang issue is kung talagang involved sila sa fraud case ng Wirecard o hindi. Kung sakali man na kasabwat talaga, reputation ang matatamaan at pati na rin customer's trust/confidence. So far lumalabas na wala silang kinalaman.

A post on Facebook claims that a former Assistant Secretary of DOTR, Mark Tolentino, is the Trustee of Wirecard dito sa Pinas. It's the same ASEC who was fired by PRRD for alleged corruption. I'm still looking for other sources para ma-verify na Trustee nga siya.

CNN also reported na may sinibak na marketing officer sa BDO for allegedly fabricating a bank certificate.

The plot thickens.

Shimmiry

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Quote from: Bttzed03 on June 19, 2020, 07:40:51 AM

~

Makakaapekto ba ito sa mga gumagamit or may accounts sa mga banko na nadawit sa Fraud Case? I think wala naman. As you've mentioned na statements ng dalwang banko, wala silang kinalaman nor relasyon sa Wirecard and they've said na falsified ang mga documents ng nasabing kumpanya. Therefore, I think, despite the fraud na in which sobrang laking halaga, would have any affect to the users of those banks. Overall, nasa wirecard na ang problema dito and wala na sa dalawang banko.

Now recently (7hrs ago to be exact), there's an article published by the Inquirer na nagquit na ang CEO ng wirecard due to their inability to find the 2.1 billion. This is a bad news indeed for the WC investors.

See the link here: Wirecard CEO quits after auditors can’t find $2.1 billion

Bttzed03

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Kakabasa ko lang kanina na "nadawit" ang dalawang bangko dito sa Pinas sa isang malaking case ng fraud.

Summary:

Tumanggi ang Ernst & Young (EY) na siyang auditor ng Wirecard na primahan yung 2019 financial reports nila dahil hindi na matukoy kung totoong may $2.1 Billion silang pera na dineposito sa BDO at BPI.

Ayon sa BDO at BPI, wala daw silang kinalaman sa Wirecard at hindi daw nila kliyente ang kumpanyang ito.

Quote

We are not involved in the Wirecard affairs. Wirecard is not a client. We have no relationship with them. BDO was used and is not party to the issue, ” said BDO president Nestor V. Tan in a statement.

“The document claiming the existence of a Wircard account with BDO is a falsified document and carries forged signatures of bank officers. The matter has already been reported to the Bangko Sentral ng Pilipinas, ” Tan added

Quote

BPI is adamant it has no business relationship with Wirecard.

“Their external auditor (Ernst and Young) presented to us a document that claimed that they are a client. We have determined that the document is spurious,” said BPI in a statement.

“We continue to investigate this matter,” it added.

Kung pagbabasehan natin ang statements ng dalawang bangko natin, lumalabas na pinagloloko ng Wirecard ang kanilang mga investors at mga stakeholders (kabilang na ang mga customers).

Wirecard, on the other hand, is also claiming na nabiktima din sila ng fraud. They are implying na someone has fooled them all and stolen the $2.1 Billion funds. While I personally doubt that is the case, hintayin na lang natin ang resulta ng further investigations.

Curious din ako paano kaya nakuha nung forger lahat ng detalye sa mga bank documents ng BDO at BPI. Alam ko visible naman yung mga pangalan ng mga officers sa website pero paano yung ibang documents? Hindi kaya masyado naging pabaya din ang mga bangko?

Additional notes:

Wirecard also offers services involving cryptocurrency payments. Check if isa kayo sa gumagamit ng Tenx, TON labs, Crypto.com, Wirex
This is not the firs time na nadawit ang Wirecard at kanilang officers for fraud

References:

Code:

https://bilyonaryo.com.ph/2020/06/19/di-namin-kliyente-yan-bpi-denies-hand-in-wirecards-2-1b-missing-funds2/
https://bilyonaryo.com.ph/2020/06/19/updated-bdo-says-its-a-victim-in-2-1b-wirecard-fraud-scammers-faked-our-docs-forged-officers-signatures/
https://www.straitstimes.com/business/banking/wirecard-hits-out-at-fraudsters-amid-search-for-missing-3-billion-suspends
https://www.bloomberg.com/quote/WDI:GR
https://www.coindesk.com/crypto-card-issuer-wirecard-missing-german-enron-scandal

Topic: BDO - BPI - Wirecard $2.1 Billion Fraud Case (Read 558 times)