“German Finance Minister Scholz knew about market manipulation Wirecard”

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Bloomberg writes this Friday after inspection of an investigation by the German Ministry of Finance. The sizeable accounting scandal at Wirecard came to light last month, when $ 1.9 billion was off the balance sheet.

Urgent advice

However, German stock market watchdog BaFin informed Scholz in February 2019 about the case “ on suspicion of a violation of banned market manipulation. ” He was urgently advised at the time to fully investigate the matter.

The findings put additional pressure on the German authorities. They are accused of acting lax in the fraud case surrounding Wirecard. Scholz has so far denied that he was involved in the scandal, with earnings reported deliberately and consistently higher.

“Acted Correctly”

According to a spokesman for the German Ministry of Finance, Scholz acted appropriately in the matter. In the aftermath of the scandal, the ministry is looking for a ‘revision’ of accounting supervision.

Wirecard is now about to fall over. Dutch investors are also victims of this. The Vereniging van Effectenbezitters (VEB) is currently investigating how it can get compensation from banks that have financed Wirecard, but have apparently never noticed the case.

ING and ABN Amro also lent Wirecard both 200 million euros, Bloomberg previously reported. The two Dutch banks do not want to confirm this themselves.



Source link
https://www.rtlnieuws.nl/economie/artikel/5172028/wirecard-duits-minister-olaf-scholz-marktmanipulatie

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