By Reuters Staff
1 Min Read
FRANKFURT, April 19 (Reuters) - Germany’s securities regulator BaFin has filed a criminal complaint against outgoing Deutsche Bank supervisory board member Alexander Schuetz for alleged insider trading of Wirecard shares, the Financial Times reported on Monday.
The FT, citing confirmation from Munich’s prosecutor office, reported that prosecutors received the complaint from BaFin on Monday by fax and the office was awaiting further details.
BaFin, Deutsche Bank and a spokesman for Schuetz declined to comment. Munich prosecutors didn’t respond to requests for comment.
Schuetz has previously announced that he is stepping down from the board. (Reporting by Tom Sims and Patricia Uhlig. Editing by Mark Potter)
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FRANKFURT (Reuters) - The German government examined the possibility of bailing out Wirecard just three days before it collapsed, according to documents seen by Reuters showing that officials were blindsided by the country’s biggest post-war fraud scandal.
FILE PHOTO: Wirecard s former boss Markus Braun looks on during a break in his hearing before a German parliamentary committee in Berlin, Germany, November 19, 2020. REUTERS/Fabrizio Bensch/Pool/File Photo
The payment company filed for insolvency on June 25 last year, owing creditors almost $4 billion, after disclosing a 1.9 billion euro ($2.3 billion) hole in its accounts that its auditor EY said was the result of a sophisticated global fraud.
INSIGHT-How Germany considered rescuing Wirecard days before its doom yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Delivery Hero s first trading day as DAX company At that point of time, the chancellor should not have lobbied in favor of the company, but rather the prosecutor and the police should have marched in and searched the premises of the company, he said.
Merkel will be summoned to testify on April 23, a day after Scholz, the candidate whom the center-left Social Democrats (SPD) have tipped to succeed the Christian Democrat Merkel after the national election this year.
Toncar also told DW that Scholz s ministry failed to avert the scandal. Most of the political responsibility lies with the Ministry of Finance, the ministry of Olaf Scholz, said Toncar, a lawyer who specializes in international finance and a member of the parliamentary inquiry investigating the Wirecard insolvency.