The growing scandal at Wirecard has reached the Philippines.
Manila said Wednesday (June 24) that it had launched a probe into the German payments company.
The firm is in turmoil after a 2.1 billion dollar hole was found in its accounts.
That money was purportedly held at two banks in the Philippines, both of which deny any knowledge of the funds.
Now authorities there are looking for Wirecard’s former chief operating officer, Jan Marsalek.
They believe he could be in the country.
Prosectuors back in Germany want to arrest Marsalek, according to media reports.
Former CEO Markus Braun has already been arrested, on suspicion of misrepresenting company accounts and market manipulation.
He was released on bail on Tuesday (June 23).
Braun has said that the firm may have been a victim of fraud.
But the scandal has rocked Germany’s financial establishment, with regulators accused of being asleep at the wheel.
Wirecard was a former darling of the country’s tech scene.
Its shares have fallen more than 80% since the story of the missing billions first broke.