A banking affiliate of the third-party auditor hired by Philippines gaming watchdog and operator PAGCOR in a 10-year, PHP6 billion ($110.14 million) contract has disowned any bank certification issued for Global ComRCI – noting that the company does not operate in the Philippines.
The company was under contract by PAGCOR to handle audits of the Philippine Offshore Gaming Operators (POGOs).
As quoted by local senator Sherwin Gatchialan – the head of Bangko Sentral ng Pilipinas, quoted Soleil Capital CEO as saying that the bank had no record of issuing a certification or correspondence relating to its issuance.
PAGCOR had previously presented a bank guarantee supposedly issued by Soleil to Global ComRCI showing the company value of over $25 million – meeting the PAGCOR needs to qualify as a third-party auditor.
Soleil Chartered also does not currently have any applications with the nation’s central bank for a banking license and no such application had been received from 2014 until now.
PAGCOR has since issued a statement noting that it would review the authenticity of the documents submitted by the third-party auditor.
The group notes that if it is ‘able to prove that the documents submitted were spurious, it will immediately take legal action and cancel the contract of its third-party auditor, if found warranted’.
