BPI suspends, investigates employee for possible involvement in falsified documents linked to Wirecard scandal

The Bank of the Philippine Islands (BPI) has suspended an employee currently under investigation for the supposed falsification of documents purporting the company's relation to embattled Wirecard AG.

In a regulatory filing on Monday, BPI said it is now conducting its own probe into the creation of falsified documents that claim that Wirecard is a client.

According to BPI, Wirecard's auditor Ernst & Young presented documents to the bank claiming that the scandal-hit firm was a client. Such documents have already been found to be falsified.

"The employee who may have played a part in the preparation of the said document has been suspended and is under investigation," the disclosure read.

"The Bank has reported this matter to the Bangko Sentral ng Pilipinas (BSP)," it added.

BPI, along with BDO Unibank Inc., last week already denied involvement with Wirecard's missing $2.1 billion, as they clarified that the German firm is not a client.

BSP Governor Benjamin Diokno over the weekend also said that none of Wirecard's missing $2.1 billion entered the Philippine financial system.

Wirecard, whose chief executive officer Markus Braun resigned on Friday, is now scrambling to reassure investors after its search for the missing cash hit a dead end in the Philippines.—AOL, GMA News