Germany's Scholz wants more power for financial watchdog after Wirecard case: FAS

FILE PHOTO: German Finance Minister Olaf Scholz arrives to attend a news conference, amid the coronavirus disease outbreak, in Berlin, Germany, June 17, 2020. REUTERS/Annegret Hilse/Pool

Wirecard last week filed for insolvency owing creditors almost $4 billion after disclosing a 1.9 billion euros hole in its accounts that auditor EY said was the result of a sophisticated global fraud. “I want to give BaFin more control rights over financial reports, regardless of whether or not a company has a banking section,” he said in an interview with Sunday paper Frankfurter Allgemeine Sonntagszeitung .

😂 So they could fail more spectacularly?

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Çok u

Is that now the BaFin spin for being inept? That they don't have sufficient teeth? Maybe they should try doing their jobs.

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WSJ News Exclusive | Wirecard Executive’s Entry Into Philippines Might Have Been FakedPhilippine authorities searching for Jan Marsalek, the former Wirecard executive who ran operations for the German fintech company before it went bust, say they believe immigration documents showing he entered the country last month may have been forged. Les arnaqueurs par milliards ont toujours eu des faux papiers et des complicités au plus haut niveau de l'appareil d'état ! Same as it ever was ! Thanks Merkel and EU for enabling the wirecard corruption. Dont believe me? Look it up. So much forgery. The bank guarantees were forged. Now this guy's immigration papers were forged. Funny how there is suddenly so much 20/20 hindsight. People were asleep on the job. Heads must role. To paraphrase President Trump in a previous life - You're fired!
Source: WSJ - 🏆 98. / 63 Read more »