The Philippinesâ Department of Justice (DOJ) has ordered an investigation into a cryptocurrency firm that allegedly used the name of Senate President Aquilino Pimentel III in order to lure clients.
The politician, commonly known as âKokoâ Pimentel, was allegedly misrepresented by Digital Currency Co. Ltd. and Boy Joven in a cryptocurrency venture called Philippine Global Coin, according to a department order released yesterday, as reported by ABS CBN News.
Denying any affiliation with the cryptocurrency firm, Pimentel stated that there is âno partnershipâ between him and the firm, or the senate and the firm.
He further said in a statement released Monday that he was shocked at the Digital Currency Co. Ltdâs âbold claims,â and added that he had met company representatives, but only as a âmatter of courtesy to visitors.â
Pimentel further warned international Filipino workers to be careful over such cases where, names of government officials and organizations are used in investment schemes.
He said:
âThe government will never engage in activities that will profit off their sacrifices and hard work. Always check with the Philippine Embassy to verify individual claims of this nature.â
The order stated that, if sufficient evidence is found to support the case, appropriate charges should be filed against the company.
Image via Koko Pimental