Home Business Wirecard grants the lack of Bank credit – economic

Wirecard grants the lack of Bank credit – economic

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After the admission of Wirecard is that, to date, officially designated Bank balances well over 1.9 billion euros, “probability”, are apparently further investigation by the public Prosecutor’s office Munich I to.

The Board of the payment service provider Wirecard has not stood in the night on Monday that the Bank balances on escrow accounts in two banks in the Philippines in the total amount of more than EUR 1.9 billion, “with probability”. The company was previously assumed that the existence of these accounts and had reported as an asset.

Thus, it is foreseeable that the Prosecutor’s office of Munich I, is determined in terms of Wirecard now also on suspicion of accounting fraud. The Prosecutor had only recently initiated proceedings in respect of the allegation of the Manipulation of the stock price and Wirecard searches. This procedure is directed against the existing four Board members, two of which are not due to the billion scandal in the office. The previous chief Executive, Markus Braun, and Jan Marsalek are supposed to be like, in whose area of responsibility the operations in the Philippines.

The Prosecutor’s office of Munich I did not want to comment on the request on Monday morning as to whether further investigation for accounting fraud can be initiated, or whether that has already happened even.

“The potential impact on the financial statements of previous financial years can not be ruled out”

New group boss, an American, James H. Freis, who was only last week appointed to the Board is. Freis must now clean up. Was one of his first important acts for the communication of the Board on Monday night that the more than 1.9 billion euros, are not likely to be present. “The potential impact on the financial statements of previous financial years can not be ruled out”, – stated in the message.”

In doing so, Wirecard itself acknowledges that previous year and balance sheets could be up to and including 2018 is incorrect. According to Section 331 of the trade act of false balance sheets, are liable to prosecution. This can be punished with up to three years in prison or fines. Responsible for annual balance sheets of the corporate Executive Board. Wirecard these are brown, Marsalek and your previous colleagues on the Executive Board. You must now expect further investigation for accounting fraud. It could go to other offences. Experience has shown that prosecutors consider, in such cases, all the offences are considered.

Wirecard had rejected, under the direction of brown and Marsalek, all allegations that there had been in the business of the payment service provider of the irregularities. Brown and Marsalek had rather declared, Wirecard was the victim of stock market speculators, who bet on falling prices, and therefore, false allegations are widespread.

The Wirecard share price collapsed on the stock exchange again. About ten o’clock the paper is listed with a minus 34 percent in 16,26 Euro.

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