economic correspondent in Munich.F. A. Z.
editor in the economy.F. A. Z. Twitter
In the past four weeks, the list of possible offences and the accused has become longer and longer. The suspicion was first to market manipulation, and against brown and three other members of the management Board, were added to the law soon, falsification of accounts and breach of trust. Meanwhile, the law enforcers go after the allegation of the commercial band of fraud, such as a high state Prosecutor, he had said. In addition, two other former executives were arrested, including the 2017 President's former chief financial officer Burkhard L. and the Manager, Stephan E.. brown was arrested when he reported within the pads even with the police. The other two managers had been taken in Munich, you would not have set for myself.
the reason for the arrest was, according to the investigators, that the Alleged crimes "had to be significantly" expanded. Since the year 2015, the three managers had inflated the balance sheet total and the volume of sales by the Feigning of revenue, although it had been clear that Wirecard made losses. "Should the company appear to be financially strong," said Leiding. Through the deception of banks in Germany and Japan, as well as other investors would have made 3.2 billion euros, which are now lost "most likely".
Leiding appeared shaken by the extent of the allegations: "we Also ask ourselves how such a System could have been established." Testimony of witnesses indicated that with Wirecard, a "strictly hierarchical System" with a corps spirit and loyalty oaths to brown prevailed. "Maybe that explains something," said Leiding.
New evidence could have made the arrest of the former chief of the Wirecard-subsidiary card systems in the Middle East, based in Dubai result. The Manager had the procedure two weeks ago, voluntarily and through his lawyer explaining that he wanted to cooperate with the justice. He is regarded as one of the key figures, was the card system in the Middle East, probably the largest hub in the Asia business. About a third of the revenue shall have delivered to the subsidiary in the fiscal year 2018. However, a majority of the entire Asia business, operating Wirecard with partner companies, didn't exist. It was under the responsibility of the long-term Wirecard Board, Jan Marsalek. The 40-year-old Austrian is sought by an international arrest warrant, his trail led recently to Belarus and Russia. However, for this purpose, the public Prosecutor's office has, apparently, no new insights.
a consulting company to determine
For the enlightenment of the billions of fraud seem to contribute, also by external advisers. According to the news Agency Reuters, Alix Partners, is tasked. The American consulting firm has cheated, had a specialized Team for forensic investigations, which has been involved in the past in spectacular cases of economic crime, to educate about the Libor scandal, or in the case of Bernard Madoff, the investor with a snow ball system.Updated Date: 22 July 2020, 14:20