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New allegations of fraud against Wirecard

The German payment services provider Wirecard is booked according to a report in the Financial Times ticket sales. Similar has been accused of the company last

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New allegations of fraud against Wirecard
The German payment services provider Wirecard is booked according to a report in the Financial Times ticket sales. Similar has been accused of the company last several times, and now internal documents to prove it. Wirecard denied the newspaper report, he had "no substance" and was "totally meaningless". The Wirecard share lost in the meantime more than 20 percent of their value. the Jan Willmroth, Frankfurt, and Nils wiper Meyer, Köln Jan Willmroth

Jan Willmroth works as a financial correspondent of the süddeutsche Zeitung in Frankfurt am Main. Grew up in the southern Eifel, the study of Economics at the University of Cologne with a focus on energy and environmental Economics, graduate of the Cologne school of journalism. After stints at the Spiegel Online, Reuters and the business week he wrote as a freelance writer for several Newspapers and magazines, and came in 2014 to the SZ. Since then, he writes about financial and commodity markets and economic policy issues. For his work he was awarded in 2016, with the friedwart Bruckhaus prize.

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the confidence of the investors was a matter of minutes then, again, after a long time of quiet to Wirecard. Meanwhile, to more than 20 per cent, the share of the Dax-newcomer broke on Wednesday after a newspaper report new doubt on the business practices of the payment service provider from Aschheim. The British Financial Times had published a Research, according to which Wirecard in Asia, several back-dated or falsified contracts used to have. By using these contracts, Wirecard wrong to have moved money between its subsidiaries, to be better.

it Has booked, the company was accused of in the past - ticket sales? According to FT there is new evidence. The newspaper relies on an internal presentation that should have created an employee of the Compliance Department of Wirecard in the last year for the Top managers of the company, including CEO Markus Braun. In the document posting procedures are described, which are under Singaporean law is a punishable offence. Among other things, it comes to wrong bookings and money laundering.

In the Form of graphs to be processed in the presentation, such as about 37 millions of dollars in suspicious transactions within the complex corporate network of the Wirecard in Asia accounted for had been. In the center of the allegations, a senior Manager for the Asia business, the be more engaged in this Position. Wirecard subsidiaries in Singapore and Hong Kong have accounted for accordingly, it is the FT, possibly by means of fictitious agreements transactions with subsidiaries in India and the alleged customer, to drive sales there at an artificially high level.

several Times, it was the accusations, Wirecard manipulate its balance sheet

The group denied the report in no uncertain terms. The FT have published a "false, inaccurate, misleading, and defamatory articles," said a spokeswoman. "This article has no substance and is completely meaningless."

The case raises once again in a bad light Ash company, extruded in the past year Commerzbank Dax. In past years, analysts had pointed out again and again inconsistencies within the Wirecard group. Several times, the accusation was loud, Wirecard manipulate its balance sheet. Several analysts have pointed out, the business of Wirecard in individual countries could not be shown.

Recently, the Bank of America Merrill Lynch caused a stir, as you pointed out in a study of the influence of Wirecards in Germany would have to be much smaller than assumed. Evidence of relevant criminal transactions, there was never, however, preliminary investigations of the public Prosecutor's office Munich I. so Far, Wirecard has always rejected all the allegations as incorrect or insufficiently researched. Multiple allegations of fraud came from short sellers, who are profiting from falling share prices. This time they come from the group.

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