German finance minister, auditors faulted in Wirecard probe Angela Merkel Financial Times Wirecard China Social Democrats


Source: independent.co.uk independent.co.uk

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German lawmakers presenting a report Tuesday into the collapse of the payment processing company Wirecard accused the country's finance minister and auditors Ernst & Young of numerous oversight failings. Wirecard filed for protection from creditors through insolvency proceedings last year after admitting that 1.9 billion euros ($2.3 billion) supposedly held in trust accounts in the Philippines probably didn’t exist. The company’s former chief executive, Markus Braun is being investigated on suspicion of criminal fraud. Interpol has issued a red notice for Wirecard’s former chief operating officer, Jan Marsalek, on allegations of “violations of the German duty on securities act and...