Dismissed former Transportation Assistant Secretary Mark Tolentino is claiming he’s a victim of identity theft as he denied embezzling $2.1 billion of German financial technology firm Wirecard’s funds.
Tolentino tagged the European businessmen he met early this year as those who might have framed him for the scandal.
“I did not receive any money from them. I am a victim of a frame-up and identity theft,” he said in a phone interview.
Wirecard said last week it couldn’t find the 1.9 billion euros ($2.1 billion) which were supposedly held in the Bank of the Philippine Islands and Banco De Oro. The controversy prompted the resignation of its Chief Executive Officer, Mark Braun.
On Tuesday (June 23), Braun was arrested by the German police on the suspicion of presenting false information.
Tolentino said the European businessmen, whom he refused to name, met with him in January or February this year for help in setting up a corporation.
He said he told the foreigners to form a Board of Directors and set up a bank account in the run up to establishing the company. The European businessmen, in turn, named Tolentino a trustee– at least in a letter from Singapore Citadel Corporation, he added.
“The letter indicated that they want me to assume as a trustee of the company, but it was just that, a piece of paper,” Tolentino said, stressing that he never received any money from the European businessmen.
Tolentino said the foreign businessmen never even paid him P500,000 as consultancy fee.
Despite the red flags, Tolentino admitted to opening accounts with BDO and BPI with only a small deposit.
“I used my own money to open a euro account. However, it was closed three days afterwards because the bank manager told me I have to maintain a peso account for three months before I will be allowed to open a foreign currency account,” he explained.
Tolentino said he has written BDO and BPI to ask for a certification that he has existing accounts with them. The document is also to ensure the confidentiality of his transactions are protected.
Amid the controversy, Tolentino admitted he has been receiving death threats. He maintains he is clueless why his name was dragged into Wirecard’s financial woes.
“I do not know why I am being singled out, maybe because I am friendly and very active on social media,’’ Tolentino said.
Tolentino’s law firm, MKT Law, also denied any wrongdoing as BDO and BPI say Wirecard’s accounts are non-existent.
“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,” said the firm’s legal counsel, Dennis Manalo, in a statement. By Nancy Carvajal|Bilyonaryo
Source: Peso Economics
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