The country’s largest bank confirmed to Bangko Sentral ng Pilipinas Governor Ben Diokno that it has terminated one of its marketing officers just hours after admitting it was one of the two Asian banks (the other is Bank of the Philippine Islands) suspected of holding in escrow Wirecard’s missing $2.1 billion funds.
BDO conducted an internal investigation which showed that the employee fabricated a bank certificate handed over to Wirecard’s external auditor, Ernst & Young Germany.
The fake document certified that part of the 1.9 billion euros ($2.1 billion) in escrow fund of Wirecard were lodged with BDO.
BDO told Diokno it “has already initiated termination proceedings.”
BPI, the other bank involved in the scam, has yet to report its findings to the central bank.