Germany to strengthen regulator after Wirecard debacle

BERLIN (AP) — Germany’s finance minister on Tuesday unveiled plans to strengthen the country’s financial supervisory authority following the accounting scandal at payment systems provider Wirecard, promising that the agency will gain “bite.” Olaf Scholz’s ministry had announced on Friday that regulator BaFin’s president, Felix Hufeld, was stepping down to […]

German ministers face grilling over Wirecard collapse

Frankfurt am Main (AFP) – Germany’s finance and economy ministers will be grilled by lawmakers on Wednesday about the massive fraud scandal that brought down payments provider Wirecard, amid criticism that authorities failed to act on early warning signs. Wirecard filed for insolvency last month after admitting that 1.9 billion […]

Former Wirecard CEO Markus Braun was arrested for a 2nd time in relation to the company’s $2 billion accounting scandal

2020 07 09T000000Z_470162734_RC2LPH9XW46N_RTRMADP_3_WIRECARD ACCOUNTS COLLAPSE.JPG Reuters Wirecard’s former chief executive Markus Braun has been rearrested in Munich as German prosecutors dug deeper into allegations of fraud at the fintech firm. Two other executives — revealed by the Financial Times as Wirecard’s former finance boss, Burkhard Ley, and Stephan von Erffa, […]

Subscribe US Now