Lawyer tagged in Wirecard mess explains side to NBI

Filipino lawyer Mark Tolentino went to the National Bureau of Investigation (NBI) on Monday to explain his side on his alleged role in the financial scandal involving German payments firm Wirecard.

Tolentino said he gave a verbal explanation to the NBI and will submit a written explanation on Tuesday or Wednesday.

Justice Secretary Menardo Guevarra said last week that the NBI invited Tolentino to "shed light" on his alleged involvement in the Wirecard controversy, in which the company disclosed it was missing 1.9 billion euros or $2.1 billion.

Tolentino was reported to have been appointed a trustee of Wirecard to open six accounts with Philippine banks to hold the amount in escrow. He claimed he was framed and was a victim of identity theft

He claimed that "foreigners" went to his office early this year telling him they wanted to start a business in the Philippines. He said he told them they can open a corporation but that they told him they were in a hurry.

“They said, ‘can you be the trustee of the company? Then, they handed over a letter...,” he was quoted as saying in an earlier report. He reportedly said he just received the letter requesting him to be a trustee.

After, Tolentino said he opened three euro accounts under his law firm, M.K. Tolentino Law & Business Consultancy Office, at BDO Unibank and another three at the Bank of the Philippine Islands (BPI). He said the initial deposits for the accounts were "just enough to buy an iPhone."

The lawyer said the bank accounts were all under his law firm and “not in trust of Wirecard.” He said he found that Wirecard made documents using his bank name to justify the supposedly missing $2.1 billion.

BDO and BPI have earlier denied involvement with Wirecard, saying the documents presented to the banks were forged or spurious.

The Bangko Sentral ng Pilipinas said none of Wirecard’s missing billions entered the country’s financial system. Wirecard itself has said the missing money likely never existed.

Wirecard's resigned chief executive, Markus Braun, was arrested on suspicion of market manipulation last week. -NB, GMA News