VC Firm Uses Sen. Koko’s Name to Promote “Philippine Global Coin”

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Digital Currency Co. Ltd (DCC) is currently under investigation for allegedly using Philippine Senate President Aquilino “Koko” Pimentel III’s name to entice clients.

DCC and Sen. Koko Pimentel

Reported by ABS CBN News, Senate President Aquilino “Koko” Pimentel denies that he is affiliated with Digital Currency Co. Ltd, claiming that he only met with the DCC firm as a matter of courtesy.

“There is no partnership between me and DCC, or the Senate and DCC. I met with these people as a matter of courtesy to visitors. I am shocked at their bold claims of an agreement between us using pictures that politicians normally have with visitors,” – Senate President Aquilino “Koko” Pimentel

After that, the Department of Justice issued an order to the National Bureau of Investigation (NBI) to:

“…conduct investigation and case build-up over the alleged misrepresentation committed by Digital Currency Co. Ltd. and Mr. Boy Joven in their virtual currency venture ‘Philippine Global Coin,’ or such other securities or products, and if evidence so warrants, to file appropriate charges thereon.”
In an initial statement from Senator Pimentel, he warns Overseas Filipino Workers (OFWs) to “be wary of those who use the names of government officials and institutions in investment schemes. The 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.”

As of this writing, DCC has not commented on the issue.

Source: ABS CBN

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