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Wirecard

Germany's finance minister rejects blame for Wirecard fiasco
World

Germany's finance minister rejects blame for Wirecard fiasco

  • Olaf Scholz joins a long list of politicians and officials who have denied responsibility for slipshod oversight and what critical lawmakers see as a pro-Wirecard bias that failed to avert Germany's biggest post-war fraud.
  • The case, on a par with the Enron scandal in the United States, has prompted the resignation of the heads of two German supervisory authorities, an overhaul of regulation, and criminal investigations.
Published 22 Apr, 2021 06:37pm
German lawmakers grill Scholz over Wirecard scandal
World

German lawmakers grill Scholz over Wirecard scandal

  • Scholz entered the closed-door meeting in the parliament's finance committee without giving a statement to reporters.
  • Scholz last week rushed out a reform agenda that would give financial watchdog BaFin greater investigative and enforcement powers.
Published 29 Jul, 2020 11:06pm
German finance minister under fire over Wirecard warnings
World

German finance minister under fire over Wirecard warnings

  • Wirecard collapsed spectacularly last month after admitting that 1.9 billion euros ($2.2 billion) missing from its accounts likely did not exist.
  • Scholz has described the Wirecard scandal as "unparalleled in the financial world" and called for reforms of the country's finance watchdog Bafin.
Published 17 Jul, 2020 08:33pm
Spying claims are latest twist in Germany's Wirecard thriller
Markets

Spying claims are latest twist in Germany's Wirecard thriller

  • Jan Marsalek, Wirecard's former chief operating officer, has vanished since the technology company was busted for what accountants described as an "elaborate and sophisticated fraud".
  • Wirecard's former chief executive and founder Markus Braun turned himself in to police, but Marsalek is at large.
Published 10 Jul, 2020 06:23pm
Deutsche Bank still evaluating Wirecard Bank support
Business & Finance

Deutsche Bank still evaluating Wirecard Bank support

  • Germany's largest bank said last week that it was working with financial watchdog BaFin and Wirecard's insolvency administrator on possible support for Wirecard Bank.
  • "We all now need transparency and that's the first task to be done," Sewing said at a webcast event organised by Bloomberg News.
Published 07 Jul, 2020 06:19pm