German prosecutors probe Wirecard for money laundering
German state prosecutors are investigating Wirecard for
suspected money laundering, a spokeswoman for the Munich prosecutor's office
said on Thursday.
"We are investigating suspected money laundering,"
the spokeswoman told Reuters, saying the inquiry was directed at individuals
from Wirecard. She said it followed a number of criminal complaints this year
and last.
Wirecard declined to comment.
The implosion of what was seen as a German success story
once worth $28 billion has caused major embarrassment with experts and
politicians criticising what they see as a hands-off approach on the part of
the authorities.
Wirecard filed for insolvency last month owing creditors
almost $4 billion after disclosing a 1.9 billion euro ($2.1 billion) hole in
its accounts that its auditor EY said was the result of a sophisticated global
fraud.
Wirecard started out handling payments for gambling and
adult websites and now processes payments for companies including Visa and
Mastercard.
Some of the world's biggest investors held its shares before
a whistleblower said it owed its success to a web of sham transactions.
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