Munich prosecutors on Friday said they had searched Wirecard's headquarters and opened proceedings against the payment company's entire ...
BERLIN: Munich prosecutors on Friday said they had searched Wirecard's headquarters and opened proceedings against the payment company's entire management board as part of a market manipulation probe initiated by Germany's financial regulator BaFin.
Wirecard confirmed in a statement that its premises had been searched as part of an investigation targeting its management board. It said it was cooperating fully with the investigation. BaFin has been investigating whether Wirecard withheld information or may have provided incorrect information before an independent audit of its earnings was concluded.Wirecard delayed the release of its results to Jun 18 after the audit by KPMG, published on April 28, failed to verify its financial reports.
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