Advanced display of the Bafin: customers turn away from Wirecard

The financial supervision in Germany extends its criminal complaint against the company Wirecard. A spokeswoman for the German Federal financial Supervisory aut

Advanced display of the Bafin: customers turn away from Wirecard

The financial supervision in Germany extends its criminal complaint against the company Wirecard. A spokeswoman for the German Federal financial Supervisory authority (Bafin) announced on late Tuesday evening, "today We have a supplementary display at the Prosecutor's office of Munich I, on suspicion of market manipulation will be reimbursed." By the Ad-hoc release of Monday, in the Wirecard acknowledged that the disappearance of 1.9 billion euros with "probability" at all existent, have corroborated the suspicion of market manipulation. "The Ad-hoc communication of Wirecard AG on November 22. June 2020 reinforces the suspicion that the accounting presentation to solve sales and assets in the annual reports (at year-end 2016, 2017 and 2018) was incorrect,“ said the spokeswoman.

at the beginning of June the Supervisory criminal had filed a complaint with the Munich public Prosecutor's office against the former Wirecard Board member of the former group chief brown. Back then, it was initially only to allegedly misleading statements contained in two statutory notifications of 12. March and 22. April. The authority determined since the beginning of 2019 in terms of Wirecard also against the group, had led their investigation to other aspects of the Fort.

brown separates of shares

The rate of fall of the Wirecard AG stock has taken the on Friday by the Chairman of the Board resigned, brown, even in his private fortune hard. With around 7 per cent of the shares now, formerly the largest shareholder, had to sell due to the so-called Margin trades, approximately 5.5 million of its 8.7 million shares for a total of around 155 million euros.

brown, however, should also have around 4.2 million Wirecard shares for a loan of 150 million euros as a security deposited. These he had recorded in the year 2017 at Deutsche Bank. This should not be, however, Braun's lender. At the end of the year 2017, the had been to the lender and pledged shares for 350 million euros in value. On Tuesday, the last arg battered stock closed with a price increase of almost 19 percent at 17.16 euros. In February 2020 was 140 Euro.

WIRECARD -- -- (--) Xetra tradegate long & black London SE Int. Level 1StuttgartFrankfurtSchweiz OTCWienSchweiz 1T 1W 3M 1J 3J 5J For detail view

during the turn, according to a Bloomberg Review first customers and business partners of the Wirecard. In Singapore, the driving service providers to the grave, was planning a partnership with Wirecard is not shared, at the request of the news agencywith to start not with the integration preparation. The French Telecom group Orange swirl for his daughter Orange Bank informed circles that in the near future on a new payment partner. An Orange spokesman declined to comment. The cooperation between the two companies goes back at least to 2013. The Dutch Arm of Air France-KLM checks, according to a spokesman for the position. The London-based online Bank Revolut has decided to customers to another provider to avoid problems in Service, the contribution from Bloomberg.

High loss of trust

at Least as urgent as securing the customer base-in-chief James Freis is for the new interim Executive Board to secure the cooperation with the credit card providers. Wirecard has licenses from Mastercard, Visa and JCB International. About the banking division of the group from their cards. If Wirecard can not find the lost 1.9 billion euros, could see the credit card companies forced to withdraw the licences to resist, writes Bloomberg. A Wirecard spokesman declined to comment.

"If you can keep the licenses from Visa and Mastercard, the big question," says Analyst Neil Campling of Mirabaud. "Without them, you have no business." A spokesman for Mastercard, said that the company follow the development at Wirecard, would not comment on the talks with individual customers. From the Visa group, it was, you keep your eyes on what is going on. Wirecard has company, according to its website, more than 313.000 as a customer. The payment provider from Aschheim offers its services in 26 countries.

Updated Date: 24 June 2020, 08:19

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