FRANKFURT, July 30 — Finance Minister Olaf Scholz yesterday said he gave lawmakers a “detailed” explanation of everything he knew about the fraud scandal that brought down payments firm Wirecard, amid criticism that authorities missed early warning signs of trouble. Wirecard filed for...
German Finance Minister Olaf Scholz at a news conference in Berlin, Germany April 8, 2020. — Reuters pic
Former CEO Markus Braun has been arrested on suspicion of falsifying accounts and market manipulation. Upon leaving the hearing after some four hours, Scholz told reporters it had been “a detailed discussion.” Wirecard's downfall has increasingly become a political hot potato after finance ministry documents showed Scholz was told as early as February 2019 of suspicions of misconduct.
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