German watchdog updates market manipulation case against Wirecard
Douglas Busvine, 23 June 2020
BERLIN, June 23 (Reuters) – Germany’s financial watchdog said on Tuesday it had filed an updated case against Wirecard , saying the collapsed payment company’s disclosure of a $2.1 billion financial hole showed it had sought to mislead markets.
The regulator Bafin said it had filed a follow-up to an earlier complaint with Munich prosecutors as it now suspected Wirecard’s accounts for 2016, 2017 and 2018 had misstated revenues and assets.
“This also strengthens the suspicion that the information contained in its financial reports sent false signals for Wirecard’s share price and thus violated a ban on market manipulation,” Bafin said in a statement.
