Wirecard

Germany Is Finally Holding A Government Official Accountable For Massive Wirecard Fraud

After promising to seriously scrutinize a series of suspicious stock trades involving shares of disgraced one-time fintech darling Wirecard, German lawmakers have apparently forced out Ralf Bose, the leader of APAS, Germany’s audit watchdog. Bose was suspended, effective immediately, on Monday after admitting to Parliament that he had traded shares in Wirecard while purportedly leading…

German Regulator Reportedly Has Evidence Ernst & Young Helped Conceal Wirecard Fraud

German authorities have defended domestic regulators and politicians – including BaFin, the Germany equivalent of the SEC, along with Chancellor Angela Merkel’s finance minister Olaf Sccholz – past the point of public believability. It’s clear, as former CEO Markus Braun’s lawyers are arguing, that the German officials who were tasked with holding companies accountable instead…

Spain’s Santander In Talks To Buy Wirecard Bank, Other Assets Out Of Bankruptcy

Even though auditors eventually determined that roughly 2/3rds of Wirecard’s revenue (including practically all of its Asian business) was fraudulent, there are still a few businesses and assets, including Wirecard’s former European banking unit, and its payments software, that have been deemed valuable. And the company’s German bankruptcy trustee has been working to sell these…