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How Germany considered rescuing Wirecard days before its doom - Netscape Money & Business

How Germany considered rescuing Wirecard days before its doom
By John O'Donnell and Tom Sims
Reuters
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.
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.
The documents provide previously unreported details of the ministry's exploration of using pandemic rescue funds to bail out Wirecard shortly before its implosion last summer, and demonstrate that officials misjudged the scandal.

Germany , China , Spitzberg , Bayern , Chinese , German , Angela-merkel , Markus-braun , Matthias-hauer , Olaf-scholz , Jan-marsalek , Tom-sims

How Germany considered rescuing Wirecard days before its doom

8 Min Read
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.

Germany , China , Spitzberg , Bayern , Frankfurt , Brandenburg , Chinese , German , Angela-merkel , Markus-braun , Matthias-hauer , Olaf-scholz

Wirecard: Guttenberg wusste viele Details

Wirecard: Guttenberg wusste viele Details
berliner-zeitung.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from berliner-zeitung.de Daily Mail and Mail on Sunday newspapers.

China , Spitzberg , Bayern , Germany , Chinese , Herr-guttenberg , Ulf-gartzke , Wirecard-company , Parliamentary-committee , Guttenberg-apparently , Consultant-spitzberg-partner , Wirecard-manager-burkhard-ley

Wirecard: Wieso die Politik den Konzern so lange unterstützte

Wirecard: Wieso die Politik den Konzern so lange unterstützte
spiegel.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spiegel.de Daily Mail and Mail on Sunday newspapers.

China , Spitzberg , Bayern , Germany , Osaka , Japan , Peking , Beijing , Chinese , Olaf-scholz , Winkler-schmidt , Markus-brown

Finanzstaatssekretär Schmidt rechtfertigt Unterstützung für Wirecard

Finanzstaatssekretär Schmidt rechtfertigt Unterstützung für Wirecard
finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.

China , Spitzberg , Bayern , Germany , Peking , Beijing , Chinese , Angela-merkel , June-luftbuchungen , Jan-marsalek , Ulf-gartzke , Chinese-company