Criminal case Wirecard: A shame for the Keeper

Felix Hufeld is not a pussyfooter. That the President of the German Federal financial Supervisory authority (Bafin) is not a failure of criticism for the Author

Criminal case Wirecard: A shame for the Keeper

Felix Hufeld is not a pussyfooter. That the President of the German Federal financial Supervisory authority (Bafin) is not a failure of criticism for the Authorities in the case of Wirecard saves, honors him well. Many of the Alternatives would not have existed, however. Excuses or Push away from responsibility, would have made the damage for the supervisors and the credibility even more damaged.

The Bafin plays in the Drama Wirecard a significant role. Your voice has weight. Whenever the Bafin is working, is clear to everyone: this is serious. That the authority acted in the case of Wirecard only half-heartedly, has contributed to what is referred to Hufeld as "shame" and as the "most terrible Situation" he had ever seen in a Dax-listed company.

The what hot. Deutsche Bank or Volkswagen, it's not like that Dax-listed companies were traditionally white vests around. Now this assessment of the "most horrific Situation," to set, gives the drama of the events strongly. This is a determination you would have wished for from the Bonn authority, but rather. The damage the negligence has been boosted, is immense, and in its full extent cannot be foreseen.

questions are a good place to start

Perhaps the air number of the 1.9 billion euros is only the beginning. In the meantime, all of Wirecard in doubt. The ramifications of the business model that is likely to be technically, only a few penetrated, has facilitated the alleged fraud. Institutional investors, retail investors, auditors, supervisors, who actually has really understood what drives Wirecard there? All have, apparently, infect, of this Silicon Valley Flair in the Bavarian town of Aschheim, which gave the Fintech dwarf Germany, at least a little size.

Updated Date: 22 June 2020, 12:20

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