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Germany drops probe of former Deutsche Bank board member over Wirecard

Germany drops probe of former Deutsche Bank board member over Wirecard
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German regulator files criminal complaint against Deutsche Bank board member over Wirecard - FT


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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Deutsche Bank's Schuetz Faces Scrutiny of Wirecard Trades


Deutsche Bank’s Schuetz Faces Scrutiny of Wirecard Trades
Bloomberg
1/26/2021
Boris Groendahl, Nicholas Comfort and Steven Arons
(Bloomberg) Germany’s top financial regulator is examining transactions by Deutsche Bank AG supervisory board member Alexander Schuetz linked to Wirecard AG, the now-defunct payments company that collapsed in a fake accounting scandal.
BaFin is conducting a preliminary assessment of Schuetz’s trading, including options on Wirecard shares around the time that SoftBank Group Corp. announced a plan to invest in the company in 2019, people familiar with the matter said, asking for anonymity in discussing non-public information. The SoftBank deal helped bolster confidence in the stock, which had come under pressure at the time from reports in the Financial Times alleging accounting irregularities. ....

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