Nov 19, 2020

Wirecard scandal: German MPs question ex-boss Braun

EPA. The former head of the disgraced payments firm Wirecard, Markus Braun, has appeared before German MPs investigating the biggest corporate scandal in post-war Germany. Wirecard collapsed in June after admitting that €1.9bn was missing from its accounts. In the UK, payment cards and foreign currency cards linked to Wirecard were blocked when the scandal broke. The scandal has sent shockwaves through German politics: there are allegations that both financial regulators and the government failed to do proper checks on Wirecard. The scandal emerged after a series of articles in the Financial Times last year focusing on alleged accounting irregularities in Wirecard's Asian operations.

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