MUNICH (Reuters) – German state prosecutors are investigating individuals at Wirecard (WDIG.DE) for suspected money laundering, they said on Thursday, adding to probes into alleged fraud, balance falsification and market manipulation at the collapsed firm.
FILE PHOTO: The logo of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions, is pictured at its headquarters in Aschheim, near Munich, Germany, July 1, 2020. REUTERS/Andreas Gebert/File Photo
The Irish Times also said the company’s offices in Dublin had been raided by police at the request of German authorities.
The implosion of what was once a $28 billion fintech giant has caused major embarrassment in Germany, with industry experts and politicians criticising the authorities for what they see as their hands-off approach and a number of missed opportunities to spot problems.
Wirecard filed for insolvency last month owing creditors almost $4 billion after disclosing a