Senate President Aquilino “Koko” Pimentel III on Monday slammed a digital currency company for allegedly swindling people by using his name and that of the Senate to attract victims.
He said the Digital Currency Co., Ltd. claimed it has partnered with the Senate for the release of a virtual currency called the Philippine Global Coin, using pictures of Pimental to buttress its claims.
The lawmaker denied any partnership “between me and DCC, or the Senate and DCC.”
Digital currency or cryptocurrency is the rage nowadays, with early investors in electronic financial instruments such as Bitcoin seeing handsome returns before they inevitably taper off, leaving late investors holding empty bags.
Admitting he had met people from the firm, Pimentel insisted it was only 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,” he said.
The Senate leader explained that the chamber cannot issue currency, as it is the mandate of the Bangko Sentral ng Pilipinas.
Pimentel is concerned that DCC might target OFWs, putting their hard-earned savings at risk.
“I ask our OFWs to be wary of those who use the names of government officials and institutions in investment schemes,” the senator said.
He pointed out that 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,” Pimentel added.
