August 6, 2024
German prosecutors have charged another two former Wirecard executives, according to a statement from their Munich office on Tuesday, casting their net wider in investigations into one of Germany’s biggest corporate scandals. Wirecard collapsed in June 2020 over a 1.9 …
January 23, 2023
The German lender Commerzbank is suing accounting firm EY over the 200 million euros ($216.12 million) in losses that it incurred in the collapse of Wirecard, a bank spokesperson said on Thursday. Wirecard’s downfall two years ago shook the German …
December 6, 2022
Former Wirecard executives go on trial on Thursday, two years after the collapse of the payments company that produced Germany’s biggest post-war fraud scandal and sent shockwaves through the country’s political and financial establishment. Austrian former chief executive Markus Braun …
February 7, 2022
Rapid action is needed to update how cross-border financial services are scrutinized and consumers protected as the sector becomes digitalized with “Big Tech” playing an increased role, European Union regulators said on Monday. People are turning to social media and …
January 20, 2022
Investors who lost money from investing in Wirecard AG shares can’t make Germany’s financial regulator Bafin compensate them, a Frankfurt court ruled. The tribunal on Wednesday threw out four suits by shareholders who claimed they lost between 3,000 euros ($3,404) …
October 25, 2021
Digital insurer Getsafe has received its insurance license from Germany’s financial regulator, BaFin. The license will allow Getsafe to accelerate its expansion to the rest of Europe. “The license is a significant milestone – especially when considering that the German …
June 23, 2021
BERLIN – 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 …
May 10, 2021
Markus Braun, the former chief executive officer of scandal-ridden Wirecard AG who has been in jail for almost a year, sued insurance giant Chubb Ltd. to make it pick up his legal bills, people familiar with the case said. Braun, …
February 11, 2021
Two Ernst & Young auditors were told by a German court that they must testify before a parliamentary committee about their accounting work for scandal-ridden Wirecard AG. The ruling gives EY clarity about how much information it may disclose under …
December 7, 2020
MUNICH – German prosecutors on Friday opened an investigation into partners at EY who audited Wirecard , after an accounting watchdog filed a report accusing them of criminality in their work for the failed payments company. A spokeswoman for the …